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Celsius Founder Sentenced to 12 Years for Fraud

5/11/2025

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Summary

Story summary

Alex Mashinsky, founder of Celsius Network, received a 12-year prison sentence for securities and commodities fraud.
He misled customers about investment safety, profiting over $48 million and causing billions in losses.
Celsius declared bankruptcy in July 2022, freezing $4.7 billion in customer funds.
Many customers experienced severe financial distress, with some facing homelessness.
This sentence is one of the longest related to the 2022 U.S. crypto market collapse.

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Story summary

Alex Mashinsky, founder of Celsius Network, received a 12-year prison sentence for securities and commodities fraud.
He misled customers about investment safety, profiting over $48 million and causing billions in losses.
Celsius declared bankruptcy in July 2022, freezing $4.7 billion in customer funds.
Many customers experienced severe financial distress, with some facing homelessness.
This sentence is one of the longest related to the 2022 U.S. crypto market collapse.