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

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.