The Southern District of New York court approved a settlement between the U.S. Commodity Futures Trading Commission (CFTC) and Celsius crypto lender founder Alex Mashinsky.


The entrepreneur received a lifetime ban on trading commodities, including cryptocurrencies, as well as on obtaining licenses from this American agency.
The settlement requires Mashinsky to comply with the Commodity Exchange Act (CEA) and CFTC requirements.
The court order ended the case against Mashinsky and Celsius, filed by the regulator in July 2023.
The CFTC claimed that the Celsius platform combined its own digital assets with client funds to generate income, which was returned to clients as weekly interest payments and rewards.
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