Tags: celsius

The agreement blocks Mashinsky from receiving any recovery in the Celsius bankruptcy, allowing for more funds to be distributed to creditors.

Prosecutors had sought 20 years, citing Mashinsky’s $48M personal profits and unrepentant attitude toward defrauding retail investors.

The judge stated that Celsius’ claim filings lacked sufficient evidence.

Mashinsky admitted to faking regulatory approval claims and secretly profiting $48 million from inflated CEL token sales.

Alex Mashinsky will reportedly plead guilty to two of the federal fraud charges levied against him over the collapse of crypto lender Celsius.

Eligible Celsius creditors in specific classes will receive payouts via PayPal, Venmo, or Coinbase, based on BTC at $95,836.23.

Entities behind pseudonymous crypto wallets can now be served via NFT airdrops, as the law catches up with technology

The court hearing marks the first in-person appearance for Mashinsky since February, as he looks to have charges against him dismissed.

Celsius has distributed 93% of the approved $3 billion in cash and crypto to more than 251,000 creditors across 165 countries.

The company has now distributed $2.53 billion to over 251,000 creditors since the repayment plan kicked off in January 2024.

Celsius froze withdrawals in June 2022 before finally declaring Chapter 11 bankruptcy a month later. 

The new transfers come about two weeks after Celsius sent $125 million in ETH to crypto exchanges.

Major Crypto Moves: Celsius Shifts $125M ETH as FTX and Alameda Adjust Holdings