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Former Celsius CEO Alex Mashinsky was sentenced to 12 years in prison for defrauding customers by misrepresenting investment risks and manipulating the company’s token price. He profited $42 million from the scheme and misled investors about Celsius’s financial stability. Mashinsky pleaded guilty to fraud and market manipulation charges, accepting a sentencing guideline of up to 30 years. The sentencing closes a chapter in one of the highest-profile criminal cases in the crypto market.
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