Celsius Founder Faces 20 Years in Prison; Token Price Soars 70%

Alexander Mashinsky, former CEO of Celsius Network, is facing a potential sentence of at least 20 years in prison for allegedly orchestrating a multi-year fraud scheme that left investors and users financially devastated. Prosecutors allege Mashinsky misled customers about how their money was being utilized, employed risky investment strategies, and misrepresented Celsius’s financial stability while secretly profiting by manipulating the price of the company’s CEL token. ]