Celsius Chief Executive Seeks Matrimony Ahead of Imprisonment: Is Mashinsky Scheming His Final Escape?
In a development that has sparked more astonishment than compassion, the ousted Celsius chief Alex Mashinsky has received the go-ahead to travel following his sentencing, but this time it’s not for a business venture—it’s to escort his daughter on her wedding day.
The twist? This isn’t your typical crypto father. Mashinsky is currently facing a verdict on federal fraud allegations that may result in a 20-year prison sentence.
Court documents indicate that Judge John Koeltl has greenlit Mashinsky’s bid to travel from New York to Memphis, Tennessee, from May 26 to May 29 for the wedding, a mere few weeks after his May 8 sentencing session.
Former Celsius CEO Alex Mashinsky is FINALLY getting sentenced next week! The DOJ has recommended a 20-year sentence. I started using X & YouTube in 2022 after losing 3.1 Bitcoin & 11.6 ETH to Celsius (over $300K at today’s prices), so we’re coming FULL CIRCLE.
pic.twitter.com/wUfJUMAZxk
— Tiffany Fong (@TiffanyFong_) May 3, 2025
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Public Approval Document Vanished: Is the Celsius CEO’s Travel Suspicious?
The public ledger was briefly displayed on the docket before inexplicably disappearing. This alone has crypto Twitter abuzz: Why would a routine approval be removed if everything is above board?
Mashinsky, 59, admitted guilt to charges of commodities fraud and price manipulation concerning Celsius’s CEL crypto token.
Celsius collapsed in the middle of 2022 after halting customer withdrawals amid crypto market disruptions, revealing a multi-billion-dollar deficit in its financial statements.
Once celebrated for providing high-yield crypto asset interest accounts, the network was later exposed as operating similarly to a Ponzi scheme, utilizing new deposits to meet previous liabilities.
At its zenith, Celsius managed assets exceeding $25 billion before filing for bankruptcy, impacting over 250,000 users adversely.
He is accused of defrauding customers out of billions, artificially inflating the CEL price, and publicly presenting Celsius as “as secure as a bank” while secretly cashing out and prepping for the downfall. Celsius filed for bankruptcy in 2022, leaving over 250,000 users stranded.
Prosecutors seek a 20-year prison sentence for him. His defense argues that a year and a day is sufficient, labeling the DOJ’s recommendation a “death-in-prison” term, and portraying Mashinsky as a non-violent first-time offender with a tarnished reputation.
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Thousands of Defrauded Investors Seek Justice: Mashinsky Prepares for Wedding Season
But let’s be clear: this is not a crypto collapse without victims. The failure of Celsius was one of the pivotal events in 2022’s Decentralized finance death spiral. Mashinsky didn’t merely lose funds; he misled millions while profiting behind the scenes.
Now, as he faces a potential 20-year sentence, he wants to join the wedding festivities first.
Granted, there’s no evidence he plans to flee. But consider this: if the leader of a $25 billion lending operation requested to travel after being sentenced, would you think twice?
The Department of Justice hasn’t raised any objections thus far. However, this moment may be painful for the thousands of Celsius victims who are still trying to reconstruct their financial lives. Mashinsky gets his moment in front of the cameras. They received liquidation notices.
If this is indeed his last taste of freedom, it is fitting: donned in a suit, posing for photographs, while the door gently closes behind him.
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The article Celsius CEO Wants a Wedding Before the Slammer: Is Mashinsky Plotting His Last Exit? originally appeared on 99Bitcoins.
