Celsius founder Alex Mashinsky sentenced to 12 years in prison

Alex Mashinsky, the founder and former CEO of the collapsed cryptocurrency lending firm Celsius, has been sentenced to 12 years in prison for securities fraud. The Department of Justice revealed that Mashinsky, who pleaded guilty last December, lied about Celsius's finances and artificially inflated its token price, making tens of millions while his customers lost billions. A US attorney emphasized how he exploited retail investors by promising their digital assets' safety while using them for risky bets and personal gains.