Celsius founder faces 20 years in prison.. and the CEL currency rises by 70% Alex Mashinsky faces a sentence of up to 20 years in prison as the U.S. Department of Justice targets his role in the $7 billion Celsius network fraud scheme.

Despite the legal troubles Mashinsky faces, the Celsius token (CEL) rose by 70%, now trading at $0.1507, sparking investor interest.

Mashinsky's sentencing, scheduled for May 8, comes after multiple charges from the SEC, CFTC, FTC, and DoJ, with ongoing efforts to compensate victims. Alex Mashinsky faces a sentence of up to 20 years in prison as he is pursued by the U.S. Department of Justice for being the founder of Celsius and former CEO, accused of orchestrating a long-running campaign of lies and self-dealing.

Prosecutors are pushing for such a severe penalty, citing Mashinsky as an example of the consequences of misconduct in cryptocurrencies.