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Celsius Founder Alex Mashinsky Gets 12 Years in Prison—Another Crypto ’Visionary’ Bites the Dust
Celsius Founder Alex Mashinsky Gets 12 Years in Prison—Another Crypto ’Visionary’ Bites the Dust
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Crypto’s golden boy turned jailbird—Alex Mashinsky’s empire of hot air finally popped. A New York court just handed the Celsius founder a 12-year sentence for defrauding investors out of billions. Turns out ’banking without banks’ meant ’profits without profits.’
Prosecutors called it one of the largest crypto frauds in history. Mashinsky’s defense? The classic ’I-believed-in-the-tech’ plea. The judge wasn’t buying—just like Celsius customers couldn’t withdraw their funds in 2022.
Another cautionary tale for the ’number go up’ crowd. Remember kids: when a founder says ’trust the math,’ check if they’re doing the math in a spreadsheet or a prison ledger.
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