US prosecutors have submitted over 200 victim impact statements in the case against Alex Mashinsky, the former CEO of Celsius Network. These statements, totaling 418 pages, detail the significant financial and emotional ramifications for Celsius users following the firm's collapse and subsequent bankruptcy. Many victims expressed feelings of betrayal, having entrusted their life savings to Mashinsky's assurances regarding the platform's safety. The Justice Department charged Mashinsky with committing fraud, to which he pleaded guilty in December 2023. His sentencing is set for May 8, with federal prosecutors seeking the maximum permissible prison term of 30 years. Some victim statements urge for a harsher sentence, while a few individuals advocate for leniency, citing Mashinsky’s remorse and broader economic factors contributing to the company's downfall. Mashinsky is advocating for a sentence of no more than 366 days, emphasizing his previously clean record.

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