Alex Mashinsky

Alex Mashinsky is the former CEO of Celsius, a crypto lending platform that allowed customers to earn interest and take out loans. He has been involved in the telecom, crypto, and IoT sectors and focused on integrating enterprises into web3 for several years. However, his tenure at Celsius ended in controversy.

Mashinsky resigned in September 2022 amid the company's bankruptcy proceedings. He was later arrested in 2023 and faced multiple criminal charges, including commodities fraud and manipulating the price of Celsius' native token, CEL. In December 2024, he pleaded guilty to two of these charges. His legal troubles stem from accusations of defrauding customers and misrepresenting Celsius' financial health. Mashinsky potentially faces up to 20 years in prison, with his sentencing scheduled for May 2025.

During the winding down of Celsius, some of its funds were used to establish a new bitcoin mining company called Ionic Digital. Throughout his legal battles, Mashinsky has argued that he did not intend to harm anyone and relied on the expertise of his team. His lawyers have sought to delay his sentencing to prepare a comprehensive submission to the court.