Celsius Founder Joins SBF, Do Kwon in Lineup of Prosecuted Crypto Founders
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- Mashinsky will be sentenced on May 8 in New York.
- He pleaded guilty to commodities fraud and price manipulation.
- Celsius collapsed in 2022 after holding $13 billion in user deposits.
Former Celsius Network CEO Alex Mashinsky is scheduled for sentencing on May 8, in New York, where he could face up to 20 years behind bars. This comes after he pleaded guilty late last year to two criminal charges related to commodities fraud and manipulating the price of Celsius’s own crypto token, CEL.
Mashinsky admitted his guilt back in December 2024, more than a year after federal prosecutors initially hit him with multiple charges. His sentencing date was pushed back a month from April 8th after his legal team requested more time to present evidence.
Related: Celsius Founder Pleads Guilty: Faces Fraud Sentencing in 2025
Celsius Collapse: The 2022 Background
Celsius, once a leading crypto lending platform, collapsed in 2022. The crash followed the implosion of Terra, a major decentralized finance project that caused ripple effects across the industry. Before its bankruptcy, Celsius reportedly held $13 billion in customer deposits.
U.S. authorities, including th…
The post Celsius Founder Joins SBF, Do Kwon in Lineup of Prosecuted Crypto Founders appeared first on Coin Edition.
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