Celsius Token Surges After DOJ Requests 20-Year Prison Sentence for CEO

The native token of Celsius Network (CEL) experienced a dramatic price surge following the US Department of Justice’s (DOJ) request for a severe prison sentence against former CEO Alex Mashinsky. The DOJ accused Mashinsky of years-long deception and financial misconduct, which led to billions in losses and affected thousands of customers. 80% of CEL’s value was lost over the course of the last few months but now experienced a significant recovery after the request for severe punishment was made. Mashinsky is set to appear before a court on May 8th, with a potential sentence of 20 years.