Celsius

New York Attorney General Letitia James has secured a settlement of up to $35 million from former Celsius CEO Alex Mashinsky, alongside a permanent ban from the securities, commodities and cryptocurrency industries. The action follows claims that Mashinsky misled investors about the safety of Celsius deposits before the lender froze withdrawals and entered bankruptcy in 2022.

Alexander Mashinsky, the disgraced founder of Celsius, has been formally banned from commodities-related activity in the U.S. The ruling closes a long-running regulatory case after his fraud conviction and prison sentence.