{"id":128663,"date":"2025-05-06T06:24:10","date_gmt":"2025-05-06T06:24:10","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128663"},"modified":"2025-05-06T06:24:10","modified_gmt":"2025-05-06T06:24:10","slug":"celsius-mashinsky-lashes-out-at-death-in-prison-sentence","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128663","title":{"rendered":"Celsius\u2019 Mashinsky lashes out at \u2018death-in-prison sentence\u2019"},"content":{"rendered":"

Source: Cointelegraph.com NewsAlex Mashinsky, the founder and former CEO of bankrupt crypto lending platform Celsius, has blasted the government’s 20-year \u201cvenom-laced\u201d sentence request, declaring it a \u201cdeath-in-prison sentence.\u201d
\nThe US Department of Justice requested Mashinsky receive at least 20 years behind bars in the May 8 sentencing for his role in misleading Celsius users and profiting from the price manipulation of Celsius (CEL), which would make the 59-year-old 79 if he serves the whole sentence.
\nLawyers acting for Mashinsky argued in a May 5 reply memorandum filed in a New York district court that he should receive no more than 366 days, because the DOJ hasn’t taken into account his status as a nonviolent first-time offender with a previously unblemished 30-year history in business.\u00a0\u00a0
\n\u201cThe government’s venom-laced submission recasts this case as one involving a predator with an intent to target victims, harm them, and steal their money,\u201d they said.
\n\u201cIt concludes by recommending that a first time, nonviolent offender who pled guilty and accepts responsibility receive a death-in-prison sentence.\u201d
\nLawyers acting for Mashinsky argue the DOJ has ignored their client’s background in its sentencing request. Source: Court ListenerMashinsky pleaded guilty to two out of seven charges\u00a0
\nAs part of a plea agreement, Mashinsky pleaded guilty in December 2024 to commodities fraud and manipulating the price of CEL, earning $48 million by selling his holdings before Celsius collapsed in June 2022. Prosecutors initially filed seven charges in July 2023.
\nLawyers acting for Mashinsky allege the DOJ\u2019s push for a 20-year sentence is because their client is unwilling to \u201ccapitulate to the government\u2019s exaggerated characterizations of his actions,\u201d specifically that he was a \u201cfraud from the get-go.\u201d
\n\u201cAlex is inserted as the scapegoat for every corporate action, every group decision, every unanimous vote, every market fluctuation, and every employee’s watercooler speculation,\u201d they said.
\nAs part of its April 28 sentencing request, the DOJ said Mashinsky\u2019s guilty plea showed that his crimes were deliberate, calculated decisions to lie, deceive and steal.
\nDays earlier on April 23, US federal prosecutors also filed statements from hundreds of victims who lost money due to the Celsius collapse. They detailed how some had entrusted their life savings to the protocol, believing Mashinsky\u2019s assurances that it was safe.
\nRelated: What do crypto users want to happen to Alex Mashinsky?
\nCelsius filed for Chapter 11 bankruptcy on July 13, 2022, owing $4.7 billion to creditors after halting withdrawals in June, citing volatile market conditions.
\nIn November 2023, a US bankruptcy court approved Celsius’ restructuring plan to repay customers, and in August 2024, $2.53 billion was paid to 251,000 creditors.
\nFormer Celsius chief revenue officer Roni Cohen-Pavon also pleaded guilty in September 2023 to similar charges, but his Dec. 11 sentencing has been delayed until after Mashinsky is sentenced.
\nMagazine: Crypto wanted to overthrow banks, now it\u2019s becoming them in stablecoin fightRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsAlex Mashinsky, the founder and former CEO of bankrupt crypto lending platform Celsius, has blasted the government’s 20-year \u201cvenom-laced\u201d sentence request, declaring it a \u201cdeath-in-prison sentence.\u201d The US… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128663"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128663"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128663\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128663"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}