The U.S. Department of Justice (DOJ) is seeking a 20-year prison sentence for Alex Mashinsky, the former CEO of Celsius Network, Cointelegraph reported on April 29th. Mashinsky faces charges stemming from the collapse of the crypto lending platform. Prosecutors argue that Mashinsky's actions were not due to oversight but rather "deliberate and calculated lies, deception, and theft for personal gain." This follows his July 2023 indictment by the SEC, CFTC, and DOJ on charges, including market manipulation and defrauding investors. Celsius Network filed for bankruptcy in July 2022, leaving many users unable to access their funds. The DOJ's pursuit of a lengthy prison sentence signals a serious stance on holding individuals accountable for alleged misconduct within the cryptocurrency industry. The outcome of the sentencing will be a significant marker for regulatory enforcement in the crypto space. ```
