Celsius Founder Pleads Guilty: Faces Fraud Sentencing in 2025

• Celsius founder Alex Mashinsky pleads guilty to two counts of fraud and market manipulation.
• In a December 3 hearing, Mashinsky agreed to a maximum sentencing guideline of 30 years in prison. 
• Mashinsky was indicted for misleading customers into investing and inflating the price of the CEL token.

Alex Mashinsky, the founder of Celsius Network, just pleaded guilty to fraud and market manipulation. Reuters reports that Mashinsky has agreed not to appeal any sentence of 30 years or less. This is the maximum he faces for the two counts.

Mashinsky was indicted on July 13, 2023, on seven counts of fraud, conspiracy, and market manipulation of Celsius’s CEL token. Federal prosecutors in Manhattan said Mashinsky misled investors and artificially raised the price of the CEL token.

Mashinsky Admits to Illegal Actions

But Mashinsky admitted his illegal actions to US District Judge John Koeltl in Manhattan. He said he misled Celsius customers and raised CEL’s price for personal benefits. Investigative platform Inner City Press shared Mashinksy’s statement:

“I said that Celsius had approval from regulators. It was false. I falsely said I was not selling …

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