A decision by the U.S. District Court for the Southern District of New York has postponed his sentencing until after Alex Mashinsky\u2019s, the platform\u2019s ex-CEO, scheduled hearing in April 2025. U.S. Attorney Damian Williams indicated that Cohen-Pavon\u2019s cooperation could be important for the upcoming case of Mashinsky, who is accused of misleading users and manipulating market prices.<\/p>\n
Cohen-Pavon, who was arrested in September 2023 after pleading guilty to multiple felony charges, including securities fraud and price manipulation, will now await further proceedings. His role in the case has sparked questions about whether the information he provided could influence Mashinsky\u2019s sentencing. Cohen-Pavon has admitted to his involvement in the scheme, while Mashinsky has already reached a plea deal<\/a><\/strong>, agreeing to forfeit $48 million in proceeds.<\/p>\n The legal proceedings surrounding the collapse of Celsius, a major player in the crypto lending space, continue to unfold. The company, which filed for bankruptcy in 2022, left users stranded with billions in assets frozen. With the company now in the process of reorganizing, plans to repay creditors are set to begin in 2025.<\/p>\n