New York AG Secures Up to $35M and Industry Ban From Ex-Celsius CEO Alex Mashinsky
New York Attorney General Letitia James secured a permanent ban preventing former Celsius CEO Alex Mashinsky from the securities, commodities and crypto industries, along with up to $35 million in conditional payments. He must pay $25 million to New York if he does not forfeit $10 million in additional gains to the federal government, and another $10 million if he does not serve his full sentence. Mashinsky pleaded guilty to fraud and was sentenced to 12 years in prison in 2025 for misleading Celsius customers about the safety of their deposits while concealing risky investment losses. He is seeking to overturn the sentence. Celsius collapsed in 2022; creditors had received more than $3.4 billion through bankruptcy distributions by August 2026.
