U.S. DOJ Needs 6-8 Weeks to Process Evidence Against Celsius's Former CEO, Attorneys Tell Judge

Alex Mashinsky was arrested earlier this month on fraud and price manipulation charges.

AccessTimeIconJul 25, 2023 at 4:37 p.m. UTC
Updated Jul 25, 2023 at 8:00 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The U.S. Department of Justice (DOJ) asked a federal judge for six to eight weeks to produce evidence for its case against Alex Mashinsky, the founder and former CEO of crypto lender Celsius.

According to the DOJ's attorneys, they need that time to process a wealth of Celsius’ corporate records and communications, including the 1,200 videos of Mashinsky’s and other Celsius executives' ask-me-anything sessions, many of which are more than an hour long.

Mashinsky, who was arrested earlier this month, pleaded not guilty to charges of securities fraud, commodities fraud, wire fraud and conspiracy to manipulate the price of CEL, Celsius' token.

Mashinsky was represented in court by lawyer Marc Mukasey.

Judge John G. Koeltl of the District Court for the Southern District of New York scheduled the next conference date for Oct. 3. The trial date is still to be determined. He had already signed off on giving Mashinsky's team extra time to satisfy the terms of his $40 million bail.

Celsius filed for bankruptcy last year.

Edited by Nikhilesh De.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Anna Baydakova

Anna Baydakova was CoinDesk's investigative reporter with a special focus on Eastern Europe and Russia. Anna owns BTC and an NFT.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.