00:00It's Benzinga bringing Wall Street to Main Street.
00:02Former CEO of Celsius Network, Alexander Mashinsky, was sentenced to 12 years in
00:06prison on Thursday after pleading guilty to commodities fraud and manipulating the Celsius
00:11token. Once hailed as a pioneer in decentralized finance, Mashinsky now joins a growing list
00:16of disgraced crypto executives, including FTX's Sam Bateman-Fried and Binance's
00:21Chang-Pen Zhao, who have faced criminal charges. Prosecutors accuse Mashinsky of misleading
00:26investors while secretly selling millions in personal holdings, contributing to Celsius's
00:31collapse and a $4.7 million settlement with the FTC. This sentence marks the end of a
00:35years-long fraud case that drew charges from multiple federal agencies.
00:39For all things money, visit Benzinga.com slash GSTV.
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