Overview

• Alex Mashinsky, former CEO of Celsius Network, was sentenced to 12 years in prison for securities and commodities fraud.
• The sentencing follows his December 2024 guilty plea to charges of misleading customers and manipulating Celsius' proprietary token, CEL.
• Prosecutors highlighted deliberate deception that resulted in $48 million in personal profits while customers lost billions.
• Judge John G. Koeltl also ordered Mashinsky to forfeit $48.4 million, pay a $50,000 fine, and serve three years of supervised release.
• Celsius filed for bankruptcy in 2022, freezing $4.7 billion in customer assets, with recovery efforts still ongoing.