Alex Mashinsky, former CEO of Celsius, has requested a delay in his sentencing from April 8 to May 8, 2025. His legal team claims that more time is required to effectively present his case and ensure that all relevant aspects are examined.
Mashinsky pleaded guilty in December 2024 to two criminal counts, including commodities fraud. Prosecutors allege that he deceived investors about Celsius’ financial situation prior to its bankruptcy in 2022. Celsius, once a renowned crypto lending platform, declared bankruptcy, resulting in losses for thousands of investors. Some of its residual assets were eventually used to establish Ionic Digital, a bitcoin mining company.
While Mashinsky’s counsel argue that a delay is necessary to prepare a compelling sentence argument, US prosecutors have rejected the motion, claiming that it is unnecessary. They have, however, stated that they may be amenable to a brief extension rather than a full month.
Mashinsky faced significant scrutiny after his arrest in 2023 due to his involvement in Celsius’ downfall. His sentencing will mark the conclusion of a case that has sparked global interest in the cryptocurrency business. The court’s decision regarding the delay could potentially impact the final settlement of his case.
