Judge Lets Celsius Founder Travel for Wedding on Sentencing Day

A U.S. federal judge has granted former Celsius Network CEO Alex Mashinsky permission to travel later this month for his daughter’s wedding, despite uncertainty surrounding his sentencing. Judge John Koeltl of the U.S. District Court for the Southern District of New York approved the travel request in a court filing on Wednesday, allowing Mashinsky to journey from New York to Memphis, Tennessee, between May 26 and May 29. The document appeared briefly on the public docket before it was no longer accessible. The approval comes on the same day Mashinsky faces a sentencing hearing that could determine whether he serves time behind bars. The 58-year-old pleaded guilty to commodities fraud and market manipulation tied to Celsius’ native token, CEL, after abandoning plans to go to trial. His legal team had previously tried, unsuccessfully, to have the charges dismissed. Mashinsky, who co-founded Celsius in 2017, has been out on a $40 million bond since his July 2023 arrest. Under the terms of his release, he must obtain court authorization for any travel outside designated regions. The nearly 900-mile trip to Memphis was no exception. At the time of the filing, it remained unclear whether Judge Koeltl’s sentencing decision would require Mashinsky to surrender to authorities before the wedding. His legal team has not commented publicly on the matter. Celsius collapsed in 2022 amid the broader crypto market downturn, leaving thousands of retail investors locked out of their funds. The company filed for bankruptcy that July, and Mashinsky stepped down as CEO two months later. In a May 5 court filing, Mashinsky’s legal team dismissed the DOJ’s sentencing memo as a “venom-laced submission” that unfairly portrays him as a predatory figure, ignoring that he is a nonviolent, first-time offender with a long track record in business. They argued that the government is “seeking a death-in-prison sentence” for someone who took responsibility through a guilty plea but refused to “capitulate” to the DOJ’s broader narrative. Federal prosecutors countered that Mashinsky’s crimes were deliberate and calculated, accusing him of systematically misleading Celsius customers while cashing out at their expense. In victim statements filed last month, hundreds of former Celsius users described the devastating personal losses they suffered after trusting Mashinsky’s public assurances.