US DOJ requests 20-year sentence for Celsius founder Alex Mashinsky
Summary
Alex Mashinsky, former CEO of Celsius, faces a 20-year prison sentence as the US Department of Justice seeks punishment for his role in a multibillion-dollar fraud. The DOJ's sentencing memorandum highlights that Celsius users lost access to approximately $4.7 billion in crypto assets after withdrawals were halted in June 2022. Mashinsky admitted to leading the fraudulent activities, resulting in over $550 million in losses and personally benefiting by more than $48 million. His actions were deliberate and calculated, not due to negligence or bad luck, according to the DOJ.
