Celsius Network founder Alex Mashinsky has been sentenced to 12 years in prison for defrauding investors of over $7 billion. The sentence follows a lengthy trial where Mashinsky pleaded guilty to charges of commodity and securities fraud. Despite pleas for a longer term, the judge ultimately decided on the 12-year sentence, acknowledging the severity of his actions and their impact on thousands of victims. Mashinsky’s fraudulent promises of high returns led to Celsius Network’s collapse, leaving hundreds of thousands of investors with severe financial losses. Mashinsky himself reportedly broke down in tears during his final statements before sentencing, reflecting the gravity of his criminal conviction. This landmark case represents a significant step in holding individuals accountable for misconduct in the cryptocurrency industry. 12 years imprisonment marks a pivotal moment in the history of cryptocurrencies as it holds a chilling warning against unethical practices and financial misconduct.