Alex Mashinsky Sentenced to 12 Years in Jail Over Celsius Defraud

Ex-CEO Alex Mashinsky has been sentenced to 12 years in prison for defrauding thousands of customers with Celsius Network, a prominent crypto lender. The U.S. District Judge John Koeltl imposed the sentence on May 8th, 2025, after Mashinsky pleaded guilty to charges of deceiving customers by promising high returns on digital assets deposited with his firm. Government lawyers had requested a 20-year jail term, believing Mashinsky now expresses remorse for his actions.