Mashinsky Archives - Coin Engineer https://coinengineer.net/blog/tag/mashinsky/ Btc, Coins, Pre-Sale, DeFi, NFT Fri, 09 May 2025 05:33:56 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png Mashinsky Archives - Coin Engineer https://coinengineer.net/blog/tag/mashinsky/ 32 32 Court Sends Strong Message in Mashinsky Case https://coinengineer.net/blog/court-sends-strong-message-in-mashinsky-case/ https://coinengineer.net/blog/court-sends-strong-message-in-mashinsky-case/#respond Fri, 09 May 2025 07:00:39 +0000 https://coinengineer.net/blog/?p=42003 The US Southern District Court of New York has sentenced former Celsius CEO Alex Mashinsky to 12 years in prison for fraud. The decision marks a significant moment for the crypto industry, signaling that Bitcoin, Ethereum, and other technologies are no shield from justice when fraud is involved. Hopes for Leniency Dashed Mashinsky’s defense argued

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]]> The US Southern District Court of New York has sentenced former Celsius CEO Alex Mashinsky to 12 years in prison for fraud. The decision marks a significant moment for the crypto industry, signaling that Bitcoin, Ethereum, and other technologies are no shield from justice when fraud is involved.

Hopes for Leniency Dashed

Mashinsky’s defense argued for a lighter sentence — 366 days — citing his clean record, military service, and guilty plea. However, federal prosecutors pushed for a 20-year term, stating that Mashinsky targeted retail investors, not institutions. This fact ultimately led the court to impose a harsher penalty.

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Trump’s Pardon Legacy Fails to Influence Outcome

Former President Donald Trump previously pardoned high-profile crypto figures like Ross Ulbricht and BitMEX executives, raising hopes in some circles for clemency. Yet this case proved different. Despite arguments comparing him favorably to Sam Bankman-Fried, the court delivered a severe verdict.

With figures like Changpeng Zhao seeking clemency and others like Roger Ver and SBF under legal scrutiny, this ruling sets a precedent that crypto fraud, regardless of innovation or intent, will not be tolerated.

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