“Celsius Founder Alex Mashinsky Permanently Barred from Crypto Industry in $35 Million Frau” — what this page in the network covers. Alex Mashinsky, the founder of bankrupt cryptocurrency lender Celsius Network, has reached a $35 million settlement with New York authorities, permanently banning him from the cryptocurrency, securities, and commodities industries. The agreement resolves a 2023 civil fraud lawsuit that accused Mashinsky of misleading investors about Celsius's financial health before its collapse in 2022. Under the terms, Mashinsky will pay $35 million in restitution, which will go toward repaying Celsius creditors who lost billions when the company filed for bankruptcy.
New York Attorney General Letitia James said the settlement sends a clear message that deceptive practices in the crypto space will not be tolerated. Mashinsky still faces separate federal criminal charges, including securities fraud and market manipulation, to which he has pleaded not guilty. The full version stays on the original page, which this listing opens directly.