Mashinsky seeks to overturn 12-year sentence amid FTX allegations

• Former Celsius CEO Alex Mashinsky is representing himself in court to challenge his 12-year fraud conviction.
• Motion cites ineffective legal counsel and new accusations of FTX and Celsius executive misconduct.

On May 29, 2026 (UTC), Cointelegraph reported that former Celsius CEO Alex Mashinsky filed a motion in the US District Court for the Southern District of New York to vacate his 12-year sentence for fraud and market manipulation, citing ineffective counsel and disputed evidence.

Mashinsky’s legal team withdrew from the case, leaving him to act as his own attorney. In court filings, he argues his conviction was compromised by inadequate representation and prosecution mishandling.

He claims that investigators relied on evidence produced through misconduct, describing it as “fruit of the poisonous tree,” and asserts that these actions undermined the fairness of the proceedings and led to wrongful conviction.

Mashinsky also alleges that Sam Bankman-Fried, former CEO of FTX, manipulated the CEL token market in a campaign to “destroy Celsius.” He further claims that former Celsius executive Roni Cohen-Pavon orchestrated a “hostile takeover,” referencing internal leadership disputes. Cohen-Pavon previously received a sentence of time served for cooperating with authorities.

In his filing, Mashinsky asks the court to dismiss claims from the FTX trust and challenges financial penalties. He previously agreed to a $48 million forfeiture and settled with the Federal Trade Commission for $10 million as part of a larger, mostly suspended $4.72 billion judgment.

The US District Court is reviewing Mashinsky’s pro se motion, while previous penalties and settlements remain valid, according to court records on CourtListener dated May 28, 2026.

Legal proceedings are ongoing, and Mashinsky’s case underscores potential regulatory and enforcement impacts on digital asset markets.