Celsius Founder Sentenced to 12 Years for Crypto Fraud | JQJO

Former Celsius CEO Alex Mashinsky received a 12-year prison sentence for orchestrating a massive cryptocurrency fraud. A New York judge handed down the sentence following Mashinsky's guilty plea to commodities and securities fraud. He admitted to misleading customers about Celsius's investments and manipulating a crypto coin for personal gain. Mashinsky's actions resulted in the collapse of Celsius, freezing billions in customer assets. Although customers have recovered some funds through bankruptcy proceedings, the sentence reflects the significant financial harm caused.