Former CEO of Celsius, Alex Mashinsky, has attended a hearing in a New York courtroom where he waived any potential conflict of interest in his legal representation. The hearing, known as a Curcio hearing, took place in the United States District Court for the Southern District of New York. Mashinsky’s decision to waive any conflict of interest was in relation to his lawyers, Marc Mukasey and Torrey Young, who have also filed notices of appearance in the criminal case against former FTX CEO, Sam “SBF” Bankman-Fried.
During the hearing, Judge John George Koeltl informed Mashinsky that although Celsius may claim to be a victim of Alameda Research, his lawyers could not use any documents that could potentially conflict with the two cases. Bankman-Fried is scheduled for a sentencing hearing on March 28, while Mashinsky’s criminal trial is expected to begin on September 17.
In response to the proceedings, Mashinsky, who admitted it was his first time in court, stated, “I am not an expert in this space. I am spending money to prove my innocence. I assume SBF’s sentencing will be completed before my trial. But we cannot know.”
Both Mashinsky and Bankman-Fried have had Curcio hearings called for by prosecutors in February to address concerns about potential conflicts of interest. The U.S. government has stated that Mashinsky partly blamed Celsius’ collapse on FTX’s sister firm, Alameda Research, potentially due to Bankman-Fried’s actions.
With Mashinsky waiving any potential conflicts in his case, Bankman-Fried is scheduled to attend a similar Curcio hearing on February 21. Bankman-Fried, who was convicted of seven felony counts in November 2023, has remained largely out of the spotlight. However, on February 19, photos of him behind bars surfaced, offering a rare glimpse into his life.
Mashinsky resigned as the CEO of Celsius in September 2022 and was indicted on seven felony counts, including securities fraud, wire fraud, and conspiracy to commit fraud, in July 2023. At the time of publication, he was out on $40-million bail until his trial.