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Alex Mashinsky Takes $10M FTC Settlement and Lifetime Crypto Ban
Alex Mashinsky agreed to a $10 million settlement with the FTC that permanently bars him from the crypto industry. The FTC had secured a $4.7 billion judgment tied to customer losses from Celsius Network’s collapse, but all but $10 million was suspended. Court documents say the suspended amount can be reinstated if Mashinsky failed to disclose material assets or made material misstatements in his financial disclosures. The order also requires reporting and record-keeping for up to 18 years.