according to Cointelegraph, former Celsius CEO Alex Mashinsky strongly opposed the US Department of Justice's request for a 20-year sentence, calling it equivalent to a "death sentence in prison." Mashinsky pleaded guilty in December 2024, admitting to manipulating the price of CEL tokens before the collapse of Celsius and cashing out $48 million. His lawyer stated that Mashinsky is a first-time non-violent offender with a flawless 30-year business record, arguing that the sentencing should not exceed 366 days. The prosecution, however, argues that his actions constitute deliberate fraud, causing financial losses to hundreds of users. The verdict will be announced on May 8th.
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Celsius founder Mashinsky says 20-year sentence requested by US is "equivalent to death in prison"
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