Celsius CEO Alex Mashinsky sentenced to 12 years in crypto fraud case
Alex Mashinsky, former chief executive officer of Celsius Network Ltd., arrives at court in New York, US, on Thursday, May 8, 2025.
Yuki Iwamura | Bloomberg | Getty Images
Alexander Mashinsky, the former CEO of Celsius Network, was sentenced to 12 years in prison on Thursday after pleading guilty to two counts of fraud, a dramatic fall for the leader of a company once hailed as the “bank” of the crypto industry.
Standing before U.S. District Judge John G. Koeltl in Manhattan’s Southern District, Mashinsky faced the consequences of what prosecutors described as a sweeping scheme to defraud investors.
In December he pleaded guilty to commodities fraud and a scheme to manipulate the Celsius token.
His sentencing took place in courtroom 14A at…
