08
May
Alex Mashinsky, the founder and former CEO of the collapsed cryptocurrency lending firm Celsius, has been sentenced to 12 years in prison for fraud that led to “billions in losses,†the Department of Justice announced on Thursday. Celsius, which held $25 billion in assets at its peak, abruptly halted withdrawals and transfers during a broader crypto crash in 2022, locking up billions in customer funds. The firm filed for bankruptcy just weeks later. The DOJ charged Mashinsky with securities fraud in 2023, accusing him of misrepresenting Celsius’s business and finances. It also claimed Mashinsky artificially inflated the price of the…
