Ex-Celsius CEO files motion to vacate sentence after lawyers withdraw

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Source: Courtlistener In documents attached to his motion to vacate, Mashinsky said former FTX CEO Sam Bankman-Fried intended to “destroy Celsius,” blaming him for much of the market manipulation of the network’s CEL tokens on the crypto exchange. He asked that the judge deny any FTX trust request, and provided text messages with Celsius’ former chief revenue officer Roni Cohen-Pavon, claiming he had attempted a “hostile takeover” of the platform. Celsius filed for bankruptcy in 2022 amid a market downturn that saw the collapse of many crypto exchanges, including FTX. US authorities indicted Mashinsky and Cohen-Pavon in July 2023 on charges related to fraud and market manipulation, with both men later pleading guilty. Related: Acting AG Todd Blanche confirms ‘code is not a crime’ in DOJ pivot Cohen-Pavon was sentenced to time served after pleading guilty in September 2023, with prosecutors citing his “substantial assistance” to the government, including being prepared to testify against Mashinsky. His sentencing followed the court officially closing the criminal cases against the Celsius executives. Alex Mashinsky at the Bitcoin 2021 conference in Miami. Source: Cointelegraph Although the court may still consider Mashinsky’s motion to vacate, the former CEO was already ordered to pay $48 million as part of a forfeiture in his criminal case settled in 2025. He also agreed to pay $10 million as part of a settlement with the US Federal Trade Commission in a mostly suspended $4.72 billion monetary judgment. Cohen-Pavon, sentenced to time served, agreed to pay more than $1 million and a $40,000 fine. Magazine: HYPE chases $100 target, ETH could dump below $1800: Market Moves More on the subject

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