Alex Mashinsky, former CEO of Celsius Network, is scheduled for sentencing on May 8 after pleading guilty to felony charges related to commodities fraud and price manipulation. In recent impact statements submitted to the U.S. District Court for the Southern District of New York, many victims expressed a desire for Mashinsky to be held accountable for the financial and personal losses they suffered due to Celsius's bankruptcy. While some advocates asked for leniency, others insisted that he should face significant prison time, desiring justice against perceived impunity in the crypto sector. Prosecutors have recommended a sentence of up to 20 years, whereas Mashinsky's legal team has requested a sentence of just over a year. The outcome of his sentencing is viewed as a critical indicator of the U.S. Attorney's approach to crypto enforcement, particularly following implications of softer regulatory responses from previous judgments regarding crypto firms.

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