{"id":59,"date":"2025-05-09T01:25:25","date_gmt":"2025-05-08T21:25:25","guid":{"rendered":"http:\/\/www.actutech.app\/celsius-founder-alex-mashinsky-sentenced-to-12-years-in-prison\/"},"modified":"2025-05-09T01:25:25","modified_gmt":"2025-05-08T21:25:25","slug":"celsius-founder-alex-mashinsky-sentenced-to-12-years-in-prison","status":"publish","type":"post","link":"http:\/\/www.actutech.app\/en\/celsius-founder-alex-mashinsky-sentenced-to-12-years-in-prison\/","title":{"rendered":"Celsius founder Alex Mashinsky sentenced to 12 years in prison"},"content":{"rendered":"
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Alex Mashinsky, the founder and former CEO of the collapsed cryptocurrency lending firm Celsius, has been sentenced to 12 years in prison for fraud that led to \u201cbillions in losses,\u201d the Department of Justice announced on Thursday<\/a>.<\/p>\n

Celsius, which held $25 billion in assets at its peak, abruptly halted withdrawals<\/a> and transfers during a broader crypto crash in 2022<\/a>, locking up billions in customer funds<\/a>. The firm filed for bankruptcy just weeks later<\/a>.<\/p>\n

The DOJ charged Mashinsky<\/a> with securities fraud in 2023, accusing him of misrepresenting Celsius\u2019s business and finances. It also claimed Mashinsky artificially inflated the price of the platform\u2019s token, CEL, by \u201cspending hundreds of millions purchasing it on the open market.\u201d Mashinsky pleaded guilty<\/a> to one count of securities fraud and one count of commodities fraud last December.<\/p>\n

Mashinsky\u2019s arrest comes as the Trump administration takes a softer stance<\/a> on crypto regulation. Last month, a memo obtained by The Washington Post<\/em> revealed the disbandment of a DOJ division<\/a> dedicated to investigating crypto firms. The Securities and Exchange Commission has dropped several cases against companies in crypto, including Coinbase<\/a>, Kraken<\/a>, and Robinhood<\/a>.<\/p>\n

\u201cAlexander Mashinsky targeted retail investors with promises that he would keep their \u2018digital assets\u2019 safer than a bank, when in fact he used those assets to place risky bets and to line his own pockets,\u201d US Attorney Jay Clayton said in the press release. \u201cIn the end, Mashinsky made tens of millions of dollars while his customers lost billions.\u201d<\/p>","protected":false},"excerpt":{"rendered":"

Alex Mashinsky, the founder and former CEO of the collapsed cryptocurrency lending firm Celsius, has been sentenced to 12 years […]<\/p>","protected":false},"author":1,"featured_media":60,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-59","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classe"],"jetpack_featured_media_url":"http:\/\/www.actutech.app\/wp-content\/uploads\/2025\/05\/gettyimages-1704648795-Mq7iDK-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/posts\/59","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/comments?post=59"}],"version-history":[{"count":0,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/posts\/59\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/media\/60"}],"wp:attachment":[{"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/media?parent=59"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/categories?post=59"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.actutech.app\/en\/wp-json\/wp\/v2\/tags?post=59"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}