Celsius Founder Alex Mashinsky Sentenced to 12 Years in Prison

image via WIRED

May 8, 2025, 8:43 PM

• •Alex Mashinsky, founder of Celsius, received a 12-year prison sentence for fraud.
• •He admitted to lying about business aspects and manipulating a crypto coin for personal gain.
• •Celsius, which promised high returns, collapsed, trapping billions of customer funds.
• •The sentencing reflects a disagreement over the severity of Mashinsky's actions and their impact on victims.

Alex Mashinsky, the founder of the defunct crypto lending platform Celsius, was sentenced to 12 years in prison for fraud. He pleaded guilty to commodities and securities fraud, admitting to deceiving customers and manipulating a cryptocurrency. Celsius, which attracted customers with high interest rates, collapsed, leading to the loss of billions of dollars of customer funds. The sentence reflects the judge's view of the severity of Mashinsky's crimes and their impact on victims.

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