# New York Permanently Bars Former Celsius CEO Alex Mashinsky From Crypto

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/29045
Published: 2026-10-09T14:00:17.000Z
Updated: 2026-10-09T14:00:17.000Z
Section: Regulation

> A settlement includes up to $35 million in conditional payments tied to federal forfeiture and Mashinsky’s prison term. The case involved more than 26,000 New York investors.

New York has permanently barred former Celsius CEO Alex Mashinsky from the securities, commodities and cryptocurrency industries under a settlement involving up to $35 million in conditional payments.

The agreement requires Mashinsky to forfeit $10 million in illegal proceeds to the federal government. If he fails to do so, he must pay $25 million to New York.

The settlement also includes an additional $10 million payment if Mashinsky does not serve his full 12-year prison sentence. Together, the conditions could require payments of as much as $35 million.

The case involved more than 26,000 New York investors. The permanent industry ban covers securities, commodities and cryptocurrency activity, ending Mashinsky’s ability to participate in those sectors.

The settlement’s financial obligations depend on whether Mashinsky completes the required federal forfeiture and serves the full sentence.