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Celsius Founder Faces 20 Years in Prison; Token Price Soars 70%
Celsius Founder Faces 20 Years in Prison; Token Price Soars 70%
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Former Celsius Network CEO Alexander Mashinsky is staring down a potential 20-year prison sentence after federal prosecutors accused him of orchestrating a multi-year fraud scheme. The alleged deception reportedly cost investors billions while Celsius’ native token defied logic with a 70% surge.
Mashinsky built Celsius into a crypto lending powerhouse by marketing it as a safer alternative to traditional banks. Court filings reveal a different reality—one where customer funds were allegedly mishandled through undisclosed risky investments while the platform’s financial health was systematically misrepresented.
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