Former Celsius CEO files to vacate 12-year sentence

Former Celsius CEO Alex Mashinsky has filed a motion to vacate his 12-year prison sentence for fraud and market manipulation. According to Cointelegraph, Mashinsky submitted the request to the Southern District of New York to overturn the 144-month sentence handed down in May 2025. He argued that while he pleaded guilty to commodities and securities fraud, the verdict should be canceled due to ineffective counsel and the 'fruit of the poisonous tree' doctrine, which excludes evidence derived from illegally obtained information. Mashinsky also claimed that FTX founder Sam Bankman-Fried (SBF) attempted to destroy Celsius and is largely responsible for manipulating the price of the exchange's CEL token. Mashinsky previously announced he would represent himself in the case.