Alex Mashinsky’s Lawyers Seek to Reduce Prison Sentence to One Year

The defense team for Celsius founder Alex Mashinsky has requested the court to limit his prison sentence to one year, rejecting the U.S. Department of Justice’s recommendation of a 20-year term.

The lawyers described the prosecution’s demands as a “death sentence” for the 59-year-old entrepreneur.

In December 2024, Mashinsky pleaded guilty to commodities fraud and manipulation of the CEL token prices. However, his defense argues that Celsius clients were not “victims” but rather faced market risks, not intentional harm.

The attorneys also noted that their client voluntarily agreed to plead guilty, which “already requires courage.”

Prosecutors insist that the former Celsius head deliberately misled clients, concealing the platform’s bankruptcy risks. According to their data, investor losses exceeded $2 billion.

The defense counters that the 20-year demand overlooks Mashinsky’s lack of prior convictions and his innocence in other incidents, including wire fraud.

Sentencing for Mashinsky is scheduled for May 8.