Alex Mashinsky, founder and former CEO of Celsius, has asked a New York judge to vacate his 12-year prison sentence for crypto fraud. The motion claims ineffective counsel and a legal conflict involving Sam Bankman-Fried.
Mashinsky filed the motion on or around May 29, 2026, seeking to overturn the sentence handed down in May 2025. He argues that his lawyers' withdrawal left him without effective representation and deprived him of due process.
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A federal appeals court upheld Sam Bankman-Fried’s fraud conviction and 25-year sentence on Friday. The former FTX CEO continues to seek a presidential pardon from Donald Trump as his remaining option.
The U.S. Commodity Futures Trading Commission has permanently banned Alexander Mashinsky from trading in its markets or registering with the regulator. The move finalizes the agency's case against the former Celsius CEO, who is already serving a 12-year prison sentence for fraud.
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The US Senate passed a resolution declaring that FTX founder Sam Bankman-Fried should under no circumstances receive a presidential pardon or commutation.
The U.S. Securities and Exchange Commission agreed to pay $150,000 and release two withheld documents to end a Freedom of Information Act lawsuit backed by Coinbase. The settlement, reached on July 22, also requires the agency to review its records and text-message preservation practices. The case stemmed from requests about Ethereum investigations and former Chair Gary Gensler’s communications.