Ex-Celsius CEO Alex Mashinsky Sentencing Set for May 8

Alex Mashinsky, former CEO of the collapsed crypto lender Celsius, is scheduled to be sentenced on May 8, 2025, after pleading guilty to securities and commodities fraud related to manipulating Celsius’s native token, CEL. The sentencing was postponed by a month to allow Mashinsky’s defense team to present additional evidence. Prosecutors charged Mashinsky with multiple counts, including wire fraud and market manipulation, and his guilty plea could result in up to 20 years in prison. Federal investigations revealed he misled investors about Celsius’s financial health and artificially inflated CEL’s price for personal gain, contributing to Celsius’s dramatic rise in user deposits before its ultimate collapse. Over 200 victim statements were submitted to the court, with most investors urging the judge to impose the maximum penalty. Mashinsky’s sentencing is seen as a pivotal moment for legal accountability in the cryptocurrency industry.