The U.S. Department of Justice proposed on April 28, 2025, to sentence former CEO of the crypto platform Celsius, Alex Mashinsky, to 20 years in prison. This is stated in a memorandum filed with the federal court in Manhattan. Mashinsky is accused of fraud and manipulation of the CEL token price, which led to client losses of about $4.7 billion. In December 2024, he pleaded guilty, confirming that his actions caused losses of $550 million, while he personally gained $48 million.
The prosecution insists on a severe punishment, arguing that Mashinsky deceived clients for years regarding the safety of their deposits, using funds for his own enrichment. "The court should impose 20 years of imprisonment as a fair punishment for years of lies and billion-dollar losses for thousands of victims," the Ministry of Justice stated. Mashinsky's sentence is planned to be announced on May 8, 2025.
The case has caused a stir in the crypto community, as Celsius was one of the largest platforms before its bankruptcy in 2022. Some affected clients demand the maximum sentence, while others plead for leniency, considering Mashinsky a victim of competitor attacks.
#Celsius #AlexMashinsky #CryptoFraud #USDOJ #Stablecoin #Blockchain #加密欺诈 #美国司法部 #区块链
Subscribe to #MiningUpdates for the latest news!