His sentencing took place in courtroom 14A at 500 Pearl Street — a venue that has seen several crypto executives-turned-felons.
Mashinsky's legal troubles began in 2023 when he was arrested on charges of securities, commodities, and wire fraud, just as Celsius reached a $4.7 billion settlement with the Federal Trade Commission — one of the largest in the FTC's history.
The settlement, which remains contingent on Celsius returning what remains of customer assets in bankruptcy proceedings, underscored the magnitude of the fraud.
Prosecutors accused Mashinsky of misleading investors about the safety and profitability of Celsius's yield-generating platform while secretly selling off tens of millions of dollars in personal holdings.