Celsius' Mashhinsky strikes in 'death in prison terms'

Alex Mashhinsky, the founder and former CEO of the bankruptcy crust Crypto Lending platform Celsius, has blown up the 20-year application for the “poison faces” of the government and declared it as a “death penalty”.

The US Ministry of Justice asked Mashinsky to maintain at least 20 years behind bars

Lawyers who act for Mashinsky argued in a answer submitted in a court in New York on May 5 that he should not receive longer than 366 days, since the Doj did not take into account its status as a non-violent first offender with a previously unlimited 30-year history in business.

“The poisonous submission of the government sets this case as a predator with the intention of aiming to hurt victims, harm and steal their money,” they said.

“It comes to the conclusion that a non -violent criminal who owed himself and assumes responsibility receives a death penalty.”

Mashinsky was guilty of two of seven charges

As part of a plea agreement in December 2024, Mashinsky was guilty of cheating raw material fraud and manipulating the price of CEL. He earned $ 48 million by selling his participations before Celsius collapsed in June 2022. The public prosecutor originally received seven charges in July 2023.

Lawyers who act for Mashinsky claim that after a 20-year prison sentence, the DOJ's move was not willing to “surrender the government's exaggerated characterizations about his actions”, in particular that he was “fraud” from the start.

“Alex is inserted as a scapegoat for every corporate campaign, every group decision, every unanimous coordination, every market fluctuation and every employee speculation of every employee,” she said.