The U.S. CFTC has reached a settlement with the former Celsius CEO, permanently banning him from trading and registering.

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Golden Finance reports that on June 19, the U.S. Commodity Futures Trading Commission (CFTC) announced that it has reached a settlement with former Celsius CEO Alexander Mashinsky, who has served 12 years in prison. The Southern District of New York Federal District Court approved the consent order, permanently prohibiting Mashinsky from violating anti-fraud provisions in the future, and imposing a permanent trading and registration ban.
Mashinsky was arrested in 2023, with U.S. prosecutors accusing him of defrauding customers and making false statements about Celsius's profitability. He subsequently pleaded guilty to one count of commodity fraud and one count of securities fraud, and was sentenced to 12 years in prison and nearly $50 million in fines.
Celsius operated as a crypto lending platform, allowing users to earn interest and apply for loans. The company filed for bankruptcy in 2022 and completed liquidation in 2024. Both the CFTC and SEC filed lawsuits against Celsius and Mashinsky in 2023. Additionally, last month, Mashinsky settled with the Federal Trade Commission for $10 million, which accused him of deceptive marketing practices related to crypto lending and custody services.
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