Parrot Bamboo Crypto
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Bullish
🚨 Celsius Founder Alex Mashinsky Sentenced to 12 Years in Prison for Crypto Fraud 🔐
📍 In a major case in New York, Alex Mashinsky, the former CEO of the collapsed crypto platform Celsius, was found guilty of misusing customer funds through deceptive practices. The court sentenced him to 12 years in prison, citing $7 billion in damages.
⚖️ Before Celsius declared bankruptcy in 2022, Mashinsky had promised users "safe investments" while allegedly hiding the company's risky trades and withdrawing millions of dollars for personal gain. Prosecutors emphasized that this sentence sets a critical precedent for "accountability in the crypto industry."
💔 The collapse of Celsius led to 1.8 million customers losing their funds. Meanwhile, Mashinsky's lawyers have announced plans to appeal the decision.
📍 In a major case in New York, Alex Mashinsky, the former CEO of the collapsed crypto platform Celsius, was found guilty of misusing customer funds through deceptive practices. The court sentenced him to 12 years in prison, citing $7 billion in damages.
⚖️ Before Celsius declared bankruptcy in 2022, Mashinsky had promised users "safe investments" while allegedly hiding the company's risky trades and withdrawing millions of dollars for personal gain. Prosecutors emphasized that this sentence sets a critical precedent for "accountability in the crypto industry."
💔 The collapse of Celsius led to 1.8 million customers losing their funds. Meanwhile, Mashinsky's lawyers have announced plans to appeal the decision.
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