Celsius Crypto Victims Demand Life Sentence for Alex Mashinsky, Saying He 'Devastated Lives'
Over 200 victim impact statements have been submitted to U.S. District Judge John G. Koeltl ahead of Alex Mashinsky's sentencing on May 8, with most victims demanding life imprisonment for the Celsius Network founder. Mashinsky pleaded guilty to two felony counts, admitting to misleading customers about Celsius's financial health and manipulating the price of its native token, CEL. His actions led to significant financial and emotional devastation for investors, with some claiming they lost substantial amounts and others citing severe personal consequences. Celsius froze withdrawals in June 2022, trapping $4.7 billion in customer assets before filing for bankruptcy. Mashinsky faces a maximum 30-year sentence but has requested leniency, with sentencing postponed from April 8 to May 8 to allow for additional defense preparation.
