Former Celsius CEO Alex Mashinsky has requested a one-month delay in his sentencing, seeking to move the date from April 8 to May 8, 2025.
His legal team argued that they need more time to prepare a comprehensive sentencing submission that accurately reflects their client’s views on his conduct and other relevant factors.
In December 2024, Mashinsky pleaded guilty to fraud charges, admitting to misleading investors about the financial health of Celsius and manipulating its native token price.
, the embattled former CEO of Celsius, is making a last-minute push to delay his sentencing, seeking an extra month before facing justice. His legal team has formally requested the court to move the sentencing date from April 8 to May 8, 2025, arguing they need more time to prepare their case.
The request comes weeks after Mashinsky pleaded guilty to commodities fraud and securities fraud in December 2024. The former Celsius executive, once celebrated for pioneering the company as a high-yield crypto lending platform, now finds himself at the center of a massive fraud scandal.
Investors Await Justice as Mashinsky Seeks Extra Month of Freedom
While thousands of former Celsius users are still reeling from financial losses and awaiting accountability, Mashinsky is focused on buying time.
According to a court at the United States District Court for the Southern District of New York on February 5, his lawyers claimed that the additional month is crucial for preparing a sentencing submission that fully presents his stance on the case.
“The defense wants to ensure that it has sufficient time to prepare a sentencing submission that accurately presents Mr. Mashinsky’s views on his offense conduct, along with the many other factors to be considered by the Court in weighing an appropriate sentence,” his legal team wrote.
“The defense wants to ensure that it has sufficient time to prepare a sentencing submission that accurately presents Mr. Mashinsky’s views on his offense conduct, along with the many other factors to be considered by the Court in weighing an appropriate sentence,” his legal team wrote.
However, federal prosecutors have opposed the delay, stating that the request is premature. They have, at most, agreed to a one-week extension, signaling their reluctance to let Mashinsky push back his sentencing any further.
Mashinsky was arrested in July 2023, seven counts of fraud, conspiracy, and market manipulation linked to his role at Celsius. After months of legal battles, he ultimately pleaded guilty on December 3, 2024, admitting to misleading investors about Celsius’s financial health and manipulating the price of its native token, CEL. Under the plea agreement, he faces up to 30 years in prison and has agreed to forfeit $48 million in illicit gains.
Regulators Crack Down on Crypto Fraud
Meanwhile, Mashinsky’s downfall is part of a broader regulatory crackdown on crypto-related fraud, as authorities ramp up efforts to bring accountability to the sector.
One of the most high-profile cases was that of Sam Bankman-Fried (SBF), the disgraced founder of FTX, who was convicted in November 2023 on multiple fraud charges related to his exchange’s collapse. In March 2024, the once upon a time crypto white knight was sentenced to 25 years in prison, marking one of the harshest punishments ever handed down in the industry.
Similarly, authorities also cracked down on Binance, the world’s largest crypto exchange by market capitalization for violations of anti-money laundering laws, sanctions breaches, and operating an unlicensed money-transmitting business.
The firm later admitted to the crimes and to settle the case for more than $4 billion. The settlement involved its then CEO (CZ), serving a four months prison time in the US for failing to implement adequate security measures on the platform during his time at Binance.