Celsius Founder Mashinsky Slams 20-Year Sentence Proposal: This Is a 'Death Sentence'

BlockBeats News, May 6th, according to Cointelegraph, Celsius founder Alex Mashinsky strongly criticized the U.S. Department of Justice's proposed 20-year prison sentence. Previously, Mashinsky had pleaded guilty to commodity fraud and manipulating the CEL token price in December 2024, profiting $48 million by selling tokens before the Celsius collapse. His legal team submitted a reply memorandum to the New York District Court on May 5th, requesting the sentence to be shortened to less than 366 days, citing Mashinsky as a first-time offender of non-violent crime with a flawless 30-year prior business record.

In July 2022, Celsius filed for bankruptcy with $47 billion in debt, affecting the assets of hundreds of thousands of users.

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