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Celsius Founder Faces 20 Years for $4.7B Crypto Fraud, Says DOJ
Celsius Founder Faces 20 Years for $4.7B Crypto Fraud, Says DOJ
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U.S. prosecutors are seeking a 20-year prison term for Alex Mashinsky, founder of the collapsed crypto lender Celsius. The Department of Justice alleges Mashinsky deliberately misled investors about the platform’s stability, resulting in $4.7 billion in losses.
The case represents a watershed moment for crypto accountability as regulators intensify scrutiny of digital asset firms. Celsius’s 2022 collapse ranks among the industry’s most catastrophic failures, eroding consumer trust during a brutal bear market.
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