Celsius Founder Alex Mashinsky to Plead Guilty to Fraud Charges

Alex Mashinsky, founder of Celsius Network, pleaded guilty to two fraud charges related to misleading customers and manipulating the price of Celsius' proprietary token, CEL. This plea is part of a broader investigation into fraudulent activities in the cryptocurrency sector following a market slump in 2022. Mashinsky faces a maximum sentence of 30 years and has agreed not to appeal any sentence of that length or less. Celsius, which filed for bankruptcy in 2022, has since exited bankruptcy and shifted its focus to Bitcoin mining.