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Celsius founder Mashinsky reaches settlement with FTC, pays $10 million, most of the $4.72 billion judgment temporarily stayed
BlockBeats News, April 29 — Celsius founder Mashinsky has reached a settlement with the U.S. Federal Trade Commission. According to the order from the Southern District Court of New York on April 29, Mashinsky is permanently prohibited from promoting any products or services used for “depositing, exchanging, investing, or withdrawing assets.” The agreement also includes a $4.72 billion damages award, but most of it is temporarily suspended. Mashinsky is required to pay $10 million to the FTC, which can also be satisfied through an equivalent amount paid to the Department of Justice via a forfeiture order in his criminal case.
If Mashinsky is found to have omitted or misreported assets in his financial disclosures, the FTC can request the court to lift the suspension, at which point the $4.72 billion judgment will become immediately effective. Previously, in May 2025, Mashinsky was sentenced to 12 years in prison for commodity and securities fraud, with prosecutors accusing him of misleading users about Celsius’s profitability, investment risks, and the safety of customer funds.