Celsius founder Alex Mashinsky reaches settlement with FTC, to pay 10 million dollars
According to Foresight News, based on reports from a certain exchange, Celsius founder Alexander Mashinsky has reached a settlement with the U.S. Federal Trade Commission (FTC). He will be permanently banned from promoting products or services that can be used to deposit, exchange, invest, or withdraw assets, and must pay $10 million. According to an order signed on Tuesday by Judge Denise Cote in the Southern District of New York, most of the FTC’s $4.72 billion compensation judgment against Mashinsky has been suspended. However, if he fails to disclose significant assets, misreports asset values, or has major omissions in financial disclosures, the suspension may be lifted and the relevant judgment amount will become immediately due. In May 2025, Mashinsky was sentenced to 12 years in prison after pleading guilty to commodities fraud and securities fraud.
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