LegalNews

In a significant turn of events for the cryptocurrency community, Alex Mashinsky, the founder of Celsius Network, has been sentenced to twelve years in prison following his guilty plea on fraud charges. This marks a notable consequence in the crypto sector amidst growing scrutiny of financial practices.

Alex Mashinsky, the founder and former CEO of Celsius Network, was sentenced to 12 years in prison for securities and commodities fraud. His actions contributed to the company's downfall and bankruptcy in 2022, revealing significant financial discrepancies.