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Celsius founder Mashinsky protests the proposed 20-year sentence, with lawyers requesting it be reduced to 366 days.
According to the Gate.io News bot, Cointelegraph reported that Celsius founder Alex Mashinsky opposed the 20-year prison sentence proposed by the U.S. Department of Justice. Mashinsky admitted to charges of commodity fraud and manipulating the price of CEL Token in December 2024, having gained $48 million by selling tokens before the collapse of Celsius.
The legal team submitted a response memorandum to the New York District Court on May 5, requesting to reduce the sentence to less than 366 days. The legal team pointed out that Mashinsky, as a first-time non-violent offender, has a flawless business record spanning 30 years.