CoinTelegraph

Federal Prosecutors Blast Ex-Celsius CEO's Bid to Overturn Conviction as 'Without Merit'

August 18, 2026•01:49 PM

Despite already serving a 12-year sentence for fraud and market manipulation, former Celsius CEO Alex Mashinsky faces another setback as federal prosecutors blast his motion to vacate the conviction as 'without merit.' The once-prominent cryptocurrency lending platform, which collapsed in 2022, remains at the center of one of crypto's biggest scandals, with Mashinsky considered the mastermind behind the fraudulent activities that defrauded thousands of investors.

Mashinsky's legal battle, now conducted pro se (representing himself), includes claims related to cryptocurrency exchange FTX and his former colleague Roni Cohen-Pavon, Celsius's chief revenue officer. Prosecutors from the Southern District of New York (SDNY) vehemently rejected the former executive's arguments, emphasizing that his conviction stands firm. This case continues to shape the crypto regulatory landscape, with authorities intensifying scrutiny of questionable practices in the industry.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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