Celsius founder faces lifetime ban, but can trade his own crypto
Summary
Alex Mashinsky agreed to a permanent ban from securities, commodities and crypto businesses in a settlement resolving New York’s civil case against the Celsius founder. New York set two conditional obligations: $25 million in damages, satisfied if he makes a qualifying $10 million payment to the U.S. Department of Justice, or otherwise payable in full to the state; and a separate $10 million judgment deemed satisfied upon completion of his 12-year federal prison sentence, subject to exceptions if the sentence is reduced or he is released early. The settlement does not create a new payment for Celsius creditors. It also records Mashinsky’s admission that he misled investors about Celsius’s regulatory approval and his sales of CEL tokens.
