DOJ Seeks 20-Year Prison Term for Celsius Founder Alex Mashinsky

The Department of Justice (DOJ) has requested a 20-year prison sentence for Celsius founder Alex Mashinsky, arguing his alleged misconduct led to devastating losses for thousands of customers. In a recent sentencing memo, the DOJ outlines how Mashinsky’s actions resulted in the freezing of nearly $4.7 billion in cryptocurrency assets following the abrupt withdrawal halt on June 12, 2022. The memo details years-long schemes of deception and self-dealing that have been attributed to the fall from grace of Celsius.