According to ChainCatcher news and a report by Cointelegraph, Celsius founder Alex Mashinsky expressed strong dissatisfaction with the 20-year prison sentence proposed by the U.S. Department of Justice. Previously, Mashinsky pleaded guilty to commodity fraud and manipulating the price of the CEL Token in December 2024, profiting $48 million by selling tokens before the collapse of Celsius. His legal team submitted a response memorandum to the New York District Court on May 5, requesting that the sentence be reduced to less than 366 days, arguing that Mashinsky is a non-violent first-time offender with a 30-year flawless business record. Celsius filed for bankruptcy protection in July 2022, with debts of $4.7 billion, affecting the assets of hundreds of thousands of users.
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Celsius founder Mashinsky criticizes the 20-year sentence proposal: this is a death sentence.
According to ChainCatcher news and a report by Cointelegraph, Celsius founder Alex Mashinsky expressed strong dissatisfaction with the 20-year prison sentence proposed by the U.S. Department of Justice. Previously, Mashinsky pleaded guilty to commodity fraud and manipulating the price of the CEL Token in December 2024, profiting $48 million by selling tokens before the collapse of Celsius. His legal team submitted a response memorandum to the New York District Court on May 5, requesting that the sentence be reduced to less than 366 days, arguing that Mashinsky is a non-violent first-time offender with a 30-year flawless business record. Celsius filed for bankruptcy protection in July 2022, with debts of $4.7 billion, affecting the assets of hundreds of thousands of users.