The founder and former CEO of the cryptocurrency lending platform Celsius Network has been sentenced to 12 years in prison after a prosecutor labeled him a predator who “preyed on hope” by enticing vulnerable customers to risk their life savings for a supposedly safe investment.
Alexander Mashinsky, 59, was sentenced Thursday by US District Judge John G. Koeltl, who said a substantial term in prison was necessary for someone who engaged in “extremely serious” crimes that enabled him to pocket over $45 million while some of his customers lost everything and suffered severe psychological harm.
Celsius declared bankruptcy in 2022, exposing risky…
