Mashinsky was, at times, the more conservative voice in an industry overflowing with unchecked greed,” said Artur Abreu in a victim impact statement.“The twenty-year sentence suggested by the US DOJ is fair in my opinion, as Mashinsky caused pain and suffering for many crypto investors across the globe – even resulting in suicide for some of those involved,” said Web3 Deep Dive podcast host and former Cointelegraph reporter Rachel Wolfson, who lost access to Bitcoin worth about $5,000 at the time.“Harsh punishment for bad actors in the crypto industry has become necessary to ensure that the space legitimizes over time.”Mashinsky’s sentencing will be one of the first in significant crypto cases in the district since Jay Clayton became interim US Attorney for SDNY.
SBF stood before a different federal judge in the same district in March 2024 and was handed a 25-year sentence, which he is currently serving in a California prison. “While Celsius [sic] collapse caused significant losses, particularly for Bitcoin holders, shareholders, and borrowers, despite his mistakes, Mr.
Crypto users are weighing in as Alex Mashinsky, the former CEO of Celsius Network, prepares to stand before a judge on May 8 to face sentencing for commodities fraud and a fraudulent scheme to manipulate the price of the platform’s token.
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Author / Journalist: Cointelegraph by Turner Wright
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