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Celsius is still on fire: former CEO Mashinsky pleads guilty and everything is postponed
We update you with the latest drama in the Celsius case. Roni Cohen-Pavon, who was the head of revenue of the crypto lending platform, was set to take the stand on December 11… but surprise: Judge John Koeltl has just canceled the hearing.
Why? Because former CEO Alex Mashinsky reached a plea agreement with U.S. prosecutors. According to prosecutor Damian Williams, Cohen-Pavon's testimony “could be relevant” to Mashinsky's sentencing, so they decided to pause everything until April 2025 when it will be the CEO's turn.
The hottest news: Cohen-Pavon already pleaded guilty in 2023 and obtained parole to travel to Israel. Now it seems he has become the key witness who could further implicate Mashinsky.
The plot: When a lower-ranking executive suddenly has “relevant” information for the CEO's sentencing, it basically means that the prosecutors have new ammunition. The question is: how much is Cohen-Pavon going to reveal about Celsius's operations?