Alex Mashinsky, the former CEO of the now-defunct cryptocurrency lending platform Celsius Network, has pleaded guilty to two counts of fraud in a New York court. The charges stem from accusations of defrauding customers and manipulating the price of the CEL token, leading to Celsius's collapse in July 2022 after failing to meet customer withdrawal demands. Mashinsky's guilty plea comes after his arrest in 2023 and follows a string of regulatory issues. He has agreed to a 30-year prison sentence without appeal, marking a significant development in one of the crypto industry's largest scandals. Celsius Network, once a prominent player in the crypto lending space, promised investors high returns but ultimately misled them about the platform's financial health and the use of their funds.