Former cryptocurrency evangelist Alex Mashinsky was sentenced to 12 years in prison on Thursday after pleading guilty to fraud in connection with the multibillion-dollar collapse of his firm, Celsius Network, three years ago.
A pseudobank that touted returns of as much as 18.6% on customers’ crypto deposits, Celsius was one of the first big crypto companies to topple into bankruptcy after a downturn in the digital-currency markets began in the spring of 2022.
