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CryptoWorld News reports that Celsius founder Alexander Mashinsky has agreed to pay $10 million to the U.S. Federal Trade Commission (FTC) to settle.
This settlement is related to a $4.72 billion judgment that is recoverable due to asset disclosure issues.
According to an order signed by Southern District of New York Judge Denise Cote, Mashinsky is "permanently restricted and prohibited" from promoting any products or services used for "depositing, trading, investing, or withdrawing assets."
This settlement is a legal consequence of Celsius's collapse in 2022, with the FTC reserving the right to pursue larger judgments if Mashinsky is found to have failed to disclose or omitted assets.