According to Foresight News, the U.S. Department of Justice submitted a government sentencing memorandum to Celsius founder Alex Mashinsky on April 28, recommending a 20-year prison sentence because his fraudulent actions caused Celsius customers to lose billions of dollars. The 97-page memorandum noted that after the platform stopped withdrawals on June 12, 2022, Celsius users were unable to access approximately $4.7 billion in crypto assets. The authorities stated that as part of his guilty plea in December 2024, Alex Mashinsky admitted to being the leader of Celsius's criminal activities, with his crimes causing losses exceeding $550 million, and he personally benefited over $48 million.
Foresight News previously reported that the U.S. court will sentence former Celsius CEO Alex Mashinsky on May 8.
