Alex Mashinsky Receives Lifetime Ban from Working in Crypto
The state of New York has reached a settlement with Alex Mashinsky, founder of the bankrupt crypto lending platform Celsius. He agrees to a permanent ban from working in crypto, securities, and commodities. Mashinsky is prohibited from working in crypto or securities and from providing paid investment advice. Potential payments could amount to over €31 million, but this is not a direct fine. His personal purchases and sales of investments remain permitted. The ban applies to professional involvement in crypto, securities, or commodities, including roles as a publisher, trader, advisor, director, consultant, or promoter. The financial agreement consists of two parts: a compensation of over €22 million to New York, which will be waived if he pays approximately €9 million to the U.S. Department of Justice. A second amount of nearly €9 million will be waived when he completes his twelve-year prison sentence. Mashinsky pleaded guilty at the end of 2024 to fraud and manipulation of the CEL token and received a prison sentence in May 2025. The settlement was signed and filed with the court on October 8.
-- Price
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