Alex Mashinsky, the founder of collapsed cryptocurrency lender Celsius Network, pleaded guilty on Tuesday in a criminal case alleging that he misled investors about the company’s financial condition and used customer funds to manipulate the value of a digital token it issued.
“I know what I did was wrong and I want to do what I can to make it right,” Mashinsky, 59, told Judge John Koeltl during the hour-long hearing in Manhattan federal court. “I accept full responsibility for my actions.” In an agreement with prosecutors he pleaded guilty to one count of fraud and one count of market manipulation.
The two counts carry a combined maximum sentence of 30 years in prison. Sentencing has been set for April 8.
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