Crypto News Roundup: Celsius CEO Sued, Polygon Hard Fork, and More

• Former Celsius CEO Alex Mashinsky has been sued by the New York Attorney General’s office for allegedly defrauding customers.
• Celsius Mining has agreed to sell 2,687 Bitcoin mining rigs for $1.34 million.
• Polygon has proposed a hard fork to reduce gas fees.

The cryptoverse has seen a lot of activity in the past 24 hours. On Jan. 13, news broke that the former CEO of Celsius Network LLC, Alex Mashinsky, was sued by the New York Attorney General’s office. According to the lawsuit, Mashinsky violated the Martin Act and New York’s Executive and General Business Laws by allegedly defrauding investors into depositing billions of dollars into digital assets within the cryptocurrency lending company.

Meanwhile, Celsius Mining announced an agreement to sell 2,687 Bitcoin mining rigs for $1.34 million to Touzi Capital. The mining rigs are „MicroBT ASIC M30S“ located in Houston, Texas, with a hashrate ranging between 84TH/s to 92TH/s.

In other news, Polygon has proposed a hard fork that seeks to reduce gas fees and improve scalability. Polygon is a Layer 2 scaling solution for Ethereum that is designed to make transactions faster and cheaper. The hard fork is expected to take place in the second quarter of 2021.

Crypto.com announced layoffs, Congress member Tom Emmer criticized the U.S. Securities and Exchange Commission, and various reports and research on Bitcoin, the crypto market, and stablecoins were released.

These reports and news are only a few of the stories that have come out of the cryptoverse in the past day. With all these stories, it’s clear that the cryptocurrency market is continuing to evolve and mature. Investors and traders should stay vigilant and informed on all the latest news and developments in order to remain ahead of the curve.