alexmashinsky

U.S. prosecutors ask court to reject Celsius ex-CEO’s motion to vacate conviction, saying his legal arguments “lack merit”

On August 19, two federal prosecutors in the Southern District of New York opposed Celsius’s former chief executive officer’s attempt to convince the prosecution to revoke his conviction. They said his legal arguments were “baseless” and asked the court to dismiss Alex Mashinsky’s motion to vacate without holding a hearing.

Mashinsky was sentenced to 12 years in prison in May 2025 for commodities fraud and securities fraud. In early May, he told the court he would represent himself and then filed the motion to vacate.

In this motion, he includes allegations against the crypto exchange FTX, as well as his former colleague, Roni Cohen-Pavon, the former Chief Revenue Officer of Celsius. He is seeking a chance to have the case re-examined procedurally.

In response to the application, the prosecutors filed court documents to counter it, arguing that his legal claims are unsupported by factual assertions of his own innocence and should be dismissed directly without a hearing.

The filing states that Mashinsky neither submitted sworn testimony nor provided new evidence. The substance of his motion, it says, is merely a repetition of old materials, shifting responsibility to a third party, and accusing his former lawyer of incompetence—but it contains no factual statements about his own innocence.

The case dates back to 2022. That year, the cryptocurrency market was in severe turmoil, and Celsius filed for bankruptcy, becoming another crypto giant to collapse after Terraform Labs.

As early as 2023, authorities brought a lawsuit against Mashinsky and former Chief Revenue Officer Roni Cohen-Pavon. Both ultimately chose to plead guilty.

Among them, Mashinsky was sentenced in May 2025 to 144 months in prison for committing commodities and securities fraud, and was fined $48 million. He also reached a $10 million settlement with the CFTC.

Notably, the defendant Cohen-Pavon in the same case, for providing “substantial assistance” leads to the prosecutors against Mashinsky, had his prison term expire in May and was released immediately in court.

The judge currently handling the case has not yet responded to the prosecutors’ request for dismissal. Whether Mashinsky’s legal fight will ultimately achieve a breakthrough remains to be seen.

#Celsius #AlexMashinsky

🚫 GAME OVER! ALEX MASHINSKY BANNED FROM CRYPTO FOREVER! 🛑💀

💥 THE DECISION:
Founder of Celsius Network is officially BANNED FOR LIFE from participating in any crypto business! 🚫🔒

💰 THE PENALTY:

- Ordered to pay $10 MILLION settlement to FTC 💸⚖️
- He can never hold a leadership role or promote financial products again!

📉 THE STORY:
Once a giant in the industry, now completely exiled!
The collapse of Celsius cost users billions, and now he pays the price! ⛓️⚖️

No coming back from this! 🚪👋
$FTT $LUNA
#Celsius #AlexMashinsky #FTC #Banned

🚨 ALEX MASHINSKY JUST GOT BANNED FOR LIFE

Celsius founder. Face of the contagion. Now permanently barred from crypto by the FTC.

U.S. judge approved the settlement:

❌ Lifetime ban on promoting or marketing any crypto product
❌ $10M fine up front
❌ $4.72B judgment suspended — but reinstated instantly if he misrepresents his finances

This is how regulators write the ending.

Not just jail. Not just fines. A lifetime ban from the entire industry.

The message is crystal clear:

If you run a fraudulent crypto operation, you don't get a second act. Not as an advisor. Not as a founder. Not anywhere.

Mashinsky joins SBF in the Hall of Shame. No redemption arc. No comeback.

For the industry? Painful but necessary.

The bad actors get surgically removed. The survivors get cleaner air.

Celsius users got burned. Now they at least get the justice part.

#Celsius #AlexMashinsky #FTC #Crypto #Regulation