Add as a preferred source on GoogleAlex Mashinsky Accepts Lifetime Ban Under New York Settlement
The agreement includes conditional payments of up to $35 million tied to federal forfeiture and prison-sentence conditions, adding to existing FTC and CFTC restrictions.
Celsius founder Alex Mashinsky accepted a lifetime ban from the crypto industry under a New York settlement that also includes conditional payments of up to $35 million.
The financial terms are tied to federal forfeiture and prison-sentence conditions, making the amount dependent on developments in those proceedings rather than establishing an unconditional payment.
The agreement adds to restrictions already imposed on Mashinsky by the Federal Trade Commission and the Commodity Futures Trading Commission. It combines a permanent industry prohibition with financial obligations linked to federal outcomes.
Mashinsky founded Celsius, the crypto lending platform.
The settlement sets the terms for his future participation in the industry and the conditions attached to the potential payments.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.