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Former Celsius Network CEO Alex Mashinsky has been sentenced to 12 years in prison for orchestrating a fraudulent scheme that misled investors and manipulated the CEL token’s value. The ruling follows his guilty plea to commodities and securities fraud, marking a significant chapter in the Celsius collapse.
- Mashinsky admitted to artificially inflating CEL token prices while secretly selling $40M+ of his holdings.
- Celsius's $4.7B FTC settlement—one of the largest ever—remains pending customer repayments.
- Prosecutors cited Mashinsky's 'unrepentant' stance and 20K+ victim impact statements in seeking harsher penalty.
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