Here’s What Happened in Crypto Today

Courts in the United States have frozen the financial assets of Alex Mashinsky, the former CEO of Celsius. In a related development, prosecutors have described former FTX CEO Sam Bankman-Fried’s appeal against his bail revocation as “meritless.” Additionally, Grayscale has informed a U.S. securities regulator that it lacks the legal grounds to continue blocking its fund conversion.

### Assets Frozen for Mashinsky

The situation involving Celsius took a significant turn on September 5 when a U.S. court ordered the freezing of specific bank accounts associated with Alex Mashinsky.

### Prosecutors Call Bankman-Fried Appeal “Meritless”

Amid ongoing legal challenges, the appeal filed by Sam Bankman-Fried regarding the revocation of his bail has faced strong opposition from prosecutors, who argue that it lacks substantive merit.

### Grayscale Claims Lack of Legal Basis for Blocking Bitcoin ETF Conversion

In communications with a U.S. securities regulator, Grayscale disclosed that it has no legal basis to continue obstructing the conversion of its fund into a Bitcoin exchange-traded fund (ETF).