Alex Mashinsky has been living on borrowed time for months. In January, the founder and former CEO of bankrupt crypto lender Celsius was hit with a lawsuit by the New York Attorney General, alleging that he’d misled investors. Yesterday, Mashinsky was arrested and charged with seven counts of fraud by the US Department of Justice. If found guilty on all of the criminal counts, Mashinksy could face up to 115 years in prison. He pleaded not guilty and was released from custody on a $40 million bond.
Celsius’ collapse in June 2022 was part of a chain reaction—starting with the fall of
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