Peter Schiff: Alex Mashinsky’s Fraud Echoes Bernie Madoff

Financial commentator Peter Schiff has likened cryptocurrency lender Celsius Network founder Alex Mashinsky to infamous Ponzi scheme mastermind Bernie Madoff, arguing that Mashinsky’s alleged fraud echoes the patterns of the disgraced financier. A federal court sentenced Mashinsky to 12 years in prison for defrauding investors through Celsius, which collapsed last year. Schiff shared his views on social media platform X after the sentencing, claiming he knew Mashinsky was a fraud from their 2021 Kitco debate.