Alex Mashinsky, the founder of collapsed crypto lending platform Celsius Network, was sentenced to 12 years in prison Thursday for defrauding investors and manipulating the company's native token CEL (CEL-USD).

Alex Mashinsky, the founder and former chief executive of bankruptcy cryptocurrency lender Celsius Network, was sentenced on Thursday to 12 years in prison after pleading guilty in December to securities fraud and commodities fraud.

Mashinsky's downfall mirrors the fate of FTX founder Sam Bankman-Fried, Binance's Changpeng Zhao and Do Kwon of Terraform Labs.