Judge: Alex Mashinsky Will Not Benefit from the Celsius Bankruptcy Case

According to Cointelegraph, the U.S. Bankruptcy Court for the Southern District of New York has stated that Celsius debtors and former CEO Alex Mashinsky, along with his related entities, have reached an agreement prohibiting the distribution of Celsius bankruptcy proceeds to Mashinsky. The agreement allows Celsius debtors to distribute funds that were previously frozen due to claims filed by Mashinsky. In May of this year, Mashinsky was sentenced to 12 years in prison for fraud. So far this year, Celsius creditors have claimed assets totaling over $1 billion.