DOJ Seeks 20-Year Prison Term for Celsius Founder Alex Mashinsky

BTCC / BTCC Square / Global Cryptocurrency /

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2025-04-30 12:25:01

The U.S. Department of Justice has recommended a 20-year prison sentence for Alex Mashinsky, former CEO of the defunct crypto lending platform Celsius. The sentencing memorandum, filed on April 28, alleges Mashinsky orchestrated a fraud scheme that locked users out of $4.7 billion in crypto assets when Celsius collapsed in June 2022.

Prosecutors highlighted how Mashinsky personally profited while investors faced financial ruin. His December 2024 guilty plea acknowledged culpability in one of crypto’s most spectacular failures—a cautionary tale about unchecked executive power in decentralized finance.

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