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Celsius founder and former CEO Alex Mashinsky has been sentenced to serve 12 years in prison for crypto fraud. Mashinsky defrauded hundreds of thousands of customers lured by his firm’s high interest rates on digital-asset deposits. JUST IN: Former Celsius CEO Alex Mashinsky sentenced to 12 years for crypto fraud. — Watcher.Guru (@WatcherGuru) May 8, 2025 Mashinsky pleaded guilty to the charges back in December and was sentenced Thursday by US District Judge John Koeltl in Manhattan. Prosecutors previously wanted the former Celsius CEO to serve 20 years, calling him “unrepentant.” Federal prosecutors charged Mashinsky with fraud, conspiracy, and market manipulation. Moreover, they claimed that he had misled Celsius customers, using their investments to increase the value of both the company and a native cryptocurrency. However, Mashinsky’s defense argues that a shorter sentence would suffice. “He was not motivated by malevolence, cruelty, greed, or ego,” Mashinsk...

Celsius Ex-CEO Assets Freeze by Court The restraining order is part of an extensive investigation into Mashinsky’s purported misconduct. Moreover, it follows his arrest in July on fraud charges filed by the U.S. Securities and Exchange Commission (SEC).  advertisement According to court documents, there is probable cause to believe Mashinsky’s assets are tied to securities fraud, wire fraud, market manipulation, and money laundering. Consequently, these assets are now subject to forfeiture. Mashinsky had stepped down from his role at Celsius in September 2022. He cited that his position had become an “increasing distraction” as the company faced severe financial difficulties. Celsius declared bankruptcy last year during a market downturn that rattled the entire crypto sector. Hence, the court permitted the firm to convert its altcoin holdings into Bitcoin and Ethereum to stabilize its financial standing. Celsius CEO Mashinsky Fights...