COINTELEGRAPH · 2026-10-09 20:14 UTC

New York permanently bars Celsius founder Mashinsky in $35M fraud settlement

Celsius founder Alex Mashinsky permanently barred from crypto, securities, and commodities industries under New York settlement requiring up to $35 million in conditional payments. Mashinsky is serving a 12-year federal prison sentence for fraud and must forfeit over $48 million; the settlement penalizes him $25 million if he fails to forfeit $10 million in ill-gotten gains to federal government. Celsius collapsed in 2022 after attracting $20 billion in digital assets while concealing risky investments and failing to sustain promised yields up to 17%; bankruptcy has distributed $3.4 billion…

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