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Former Celsius Network CEO Alex Mashinsky has been sentenced to 12 years in prison for fraud and manipulating the price of the CEL token. The sentence is significantly shorter than the 20 years prosecutors had sought.
- Mashinsky received a 12-year sentence, eight years less than prosecutors sought.
- Celsius collapsed in 2022 after freezing withdrawals amid a crypto market crash.
- Creditors lost over $5 billion, with repayments still in progress.
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