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Former Celsius CEO Alex Mashinsky Faces 20-Year Prison Sentence for Crypto Fraud
Former Celsius CEO Alex Mashinsky Faces 20-Year Prison Sentence for Crypto Fraud
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Alex Mashinsky, the once-celebrated then vilified founder of collapsed crypto lender Celsius, now stands accused of fraud and market manipulation. Federal prosecutors seek a 20-year prison term—a punishment Mashinsky decries as a "death sentence in prison." The case underscores the tension between crypto’s decentralized ideals and the very human failures plaguing the industry.
Once a vocal advocate for financial freedom through cryptocurrency, Mashinsky’s dramatic fall mirrors Celsius’ own implosion during the 2022 crypto winter. The prosecution paints him as a calculating fraudster who knowingly misled investors, while his defense argues the proposed sentence reflects excessive punishment in a still-evolving regulatory landscape.
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