Alex Mashinsky, Former CEO of Celsius, to Be Sentenced on May 8, 2025, After Pleading Guilty to Two Criminal Counts

Alex Mashinsky, the former CEO of Celsius, is set to be sentenced by a US court on May 8, 2025, after pleading guilty to two criminal counts.

Former Celsius CEO Alex Mashinsky will be sentenced by a US court on 8 May 2025 after pleading guilty to two criminal counts.

The New York district court filing, released on 23 April 2025, has set the date for sentencing.

Initially, sentencing was set for 8 April 2025, but Mashinsky’s lawyers applied for a delay to provide time for additional evidence that could help in sentencing.

The court has now set 8 May 2025, for sentencing, according to a court document.

Mashinsky could face up to 20 years in prison after admitting to one count of securities fraud and one count of commodities fraud related to Celsius’s native token, CEL.

Earlier this year, Mashinsky was accused by federal investigators of two major schemes. The first involved misrepresenting the types of investments Celsius made, along with its profit and success levels.

In the second scheme, Mashinsky manipulated the value of Celsius’s token, CEL, while secretly selling his own supply of tokens.

The court filing stated that Mashinsky falsified the safety and sustainability of Celsius’s activities and rewards. As a result of misrepresenting Celsius as a secure platform, the company saw a significant increase in clients and fund inflow.

In 2021, Celsius had $25 billion in assets, which stands in stark contrast to the $48 million Mashinsky has agreed to pay as part of his plea deal.

Earlier this year, Sam Bankman-Fried, the former CEO of FTX, was sentenced to 25 years in prison for fraud-related offenses linked to stealing $8 billion from FTX customers.