Alex Mashinsky Permanently Barred From Securities and Crypto Industries

Former Celsius CEO Alex Mashinsky has been permanently barred from the securities, commodities and cryptocurrency industries under a settlement with New York Attorney General Letitia James.

The agreement requires Mashinsky to pay $10 million in ill-gotten gains to the federal government under his federal plea agreement, in addition to assets already forfeited. If he does not make that payment, he must pay $25 million to New York. He must also pay the state another $10 million if he does not complete his sentence.

Mashinsky is serving a 12-year sentence in a parallel federal criminal case and was ordered to forfeit more than $48 million. The ban prevents him from conducting business across the securities, commodities and cryptocurrency industries permanently.

New York sued Mashinsky in 2023, accusing him of misleading investors about Celsius’ safety and defrauding hundreds of thousands of customers, including more than 26,000 New York investors. Celsius’ bankruptcy proceedings had distributed more than $3.4 billion to creditors by August 2026.