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Celsius founder Alex Mashinsky settles with the FTC, will pay $10 million
Golden Finance reports that, according to Cointelegraph, Celsius founder Alexander Mashinsky has reached a settlement with the U.S. Federal Trade Commission (FTC), which will prohibit him from promoting products or services used for depositing, exchanging, investing, or withdrawing assets permanently, and he must pay $10 million.
A court order signed by Judge Denise Cote of the Southern District of New York on Tuesday shows that the FTC’s $4.72 billion compensation judgment against Mashinsky has been largely stayed, but if he fails to disclose significant assets, misreports asset values, or has major omissions in his financial disclosures, the stay can be lifted, and the relevant judgment amount will become immediately due. In May 2025, Mashinsky was sentenced to 12 years in prison for admitting to commodity fraud and securities fraud.