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Celsius Founder Faces 20-Year Prison Sentence in Fraud Case
Celsius Founder Faces 20-Year Prison Sentence in Fraud Case
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U.S. prosecutors are seeking a 20-year prison term for Celsius Network founder Alex Mashinsky, alleging a deliberate multi-billion dollar fraud that devastated thousands of customers. The Department of Justice filed a memo accusing Mashinsky of refusing accountability despite overwhelming evidence, framing his actions as a calculated betrayal rather than the altruistic mission he claimed.
The case underscores growing regulatory scrutiny of cryptocurrency lending platforms. While no specific coins or exchanges were implicated in the filing, the fallout from Celsius’ collapse continues to Ripple through crypto markets, reinforcing the need for transparency in decentralized finance.
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