Celsius Founder Alex Mashinsky Pleads Guilty to Fraud, Faces 30-Year Sentence

Alex Mashinsky, founder of Celsius Network, has pleaded guilty to two counts of fraud related to misleading customers and manipulating the price of the company's token, CEL. This plea is part of a broader crackdown on crypto executives following the 2022 market slump that led to several company collapses, including Celsius's bankruptcy. Mashinsky admitted to providing false information about regulatory approvals and selling his CEL holdings without disclosure. He faces a maximum sentence of 30 years as part of his plea deal.