Hey hey Celsius Creditors,

The day we’ve been waiting for has finally come—and it didn’t arrive with the thunder many of us hoped for. 

On May 8th, Alex Mashinsky was sentenced to 12 years in federal prison for his role in Celsius Network’s multi-billion dollar fraud. The man who once called himself a financial revolutionary will now trade his microphone for a prison jumpsuit.

But let’s be clear: **this doesn’t feel like closure—**not really. Not yet.

This blog is not a victory lap. It’s a reckoning. A postmortem. And a message from me, Simon Dixon, to all the creditors who stood shoulder to shoulder in pursuit of the truth—who demanded accountability when everyone else was stealing our Bitcoin.

Let’s unpack exactly what happened, what was said during our live X Space discussion, and what this sentence really means.

The Official Sentence

Alex Mashinsky was handed a 12-year prison sentence by Judge John Koeltl. He was also ordered to forfeit $48 million and nine properties. The prosecution had asked for a minimum of 20 years. His legal team? They had the audacity to argue for one year and a day. In the end, the judge landed in the middle—citing Mashinsky’s military service in the Israeli army as a mitigating factor.

But before anyone mistakes leniency for mercy, consider this: the judge still made it clear that a “substantial sentence for just punishment” was required.

Still, even now, Mashinsky won’t start serving that sentence until September 12. 

Why? Because the court granted him permission to attend his daughter’s wedding in Tennessee.

Let that sink in.

A man convicted of defrauding hundreds of thousands—many of whom lost life savings, homes, or their mental health—gets to delay prison to walk his daughter down the aisle. That privilege doesn’t exist for the everyday victims of his lies.

If you were looking for a final reminder that the justice system still bends for the powerful, you just got it.

“Judgment Day” — Our Live X Space

On sentencing day, I hosted a 3-hour X Space with Celsius Creditors from around the world. The energy was raw. There was grief. Anger. Disbelief. In some cases, numbness. But above all: solidarity.

You showed up in force. I recapped the highs and lows and the hidden parts you may not have known about. You asked hard questions. You told your stories—stories I’ll never forget.

One after another, Creditors came forward to share their pain and anger. Many pointed to Mashinsky’s unrepentant attitude. He never apologized genuinely. Never acknowledged the scope of the harm. And the DOJ saw that clearly in their pre-sentencing memo:

“Alexander Mashinsky committed a massive fraud… he enriched himself while destroying lives, and even today refuses to acknowledge what he did.”

The feeling among the community was crystal clear: Mashinsky got off light.

This wasn’t just about how many years he’ll serve. It was about the precedent. If a man can defraud thousands and still get a delay for a wedding, what message does that send? What about everyone who doesn’t get to delay bankruptcy court or clawback demands?

Why This Still Matters

This case was never just about Celsius. It was about what happens when hype replaces fiduciary duty. When regulators look away. When “innovators” use complexity to hide corruption. And when the retail investors—you—are told to sit down and wait your turn.

We didn’t wait. We didn’t sit down.

We showed up. We went public. We made the truth too loud to ignore.

And yet… 12 years doesn’t erase the trauma. The money hasn’t been returned. The clawbacks are still not over. The system that let this happen is still very much intact.

That’s why this moment matters. Not because it ends the story—but because it confirms what we’ve known all along:

Justice delayed isn’t justice denied. But it sure as hell isn’t justice delivered either.

What Comes Next

This is not the end. This is just the end of his chapter.

In the recording I shared the complete story, recapped all the twists and turns and also set out where additional value still lies. 

I also ended with recommendations on how to navigate the next ten years and appreciate the opportunity in front of us, wiser from this experience.

Final Word

To everyone who tuned in live, shared their story, or just kept showing up—you made this happen. You held the line when no one else would. And you reminded the world that even in crypto, consequences still matter.

🎙️ Missed the Live Discussion? Watch the Full X Space

Simon Dixon hosted a powerful 3-hour Space with Celsius Creditors as the sentence was delivered. Hear the raw reactions and insights from the community.
👉 Watch the full replay on X

And to Mashinsky: You had your moment. You squandered it. You buried people in your lies. Now you get 12 years to sit with the consequences.

We’ll be here doing the real work—rebuilding, holding others accountable, and making sure this never happens again.

Let’s close this chapter.
But not the book.

Peace!
Simon Dixon

Bitcoin Angel Investor | Author | Bitcoin OG |
CEO & Co-Founder Bnk To The Future

Disclaimer

This blog reflects the personal commentary and opinions of Simon Dixon in response to the sentencing of Alex Mashinsky, former CEO of Celsius Network, and the reactions expressed during a live X Space held on May 8, 2025.

All statements regarding fraud, asset forfeiture, and sentencing are based on publicly available legal documents, including the official sentencing recommendation filed by the U.S. Attorney’s Office on April 28, 2025, and the sentence delivered by Judge John Koeltl on May 8, 2025. Quotes attributed to prosecutors or the court are cited directly from those filings or publicly made statements.

This content is intended strictly for informational and educational purposes. It does not constitute legal, financial, or investment advice, and should not be relied upon as such. Any legal interpretations or critiques are made solely within the context of public discourse and are not intended to defame or misrepresent any party.

Simon Dixon does not assert any facts beyond those documented in the official court record and assumes no responsibility for how this content is interpreted or republished by third parties. The views shared in this blog represent Simon Dixon’s personal response to a high-profile legal case of public interest.

This blog was generated with the assistance of AI and is based on Simon Dixon’s livestream discussion and commentary during the May 8th X Space.