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Celsius Founder Alex Mashinsky Banned From Crypto and Securities Markets
Celsius founder Alex Mashinsky has been permanently banned from the cryptocurrency and securities industries in New York as part of a settlement with the state's Attorney General. Mashinsky, who is already serving a 12-year sentence for federal fraud charges, faces potential fines of up to $35 million.
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What happened
- 01Alex Mashinsky, founder of Celsius, is permanently banned from New York's crypto and securities markets.
- 02The settlement includes potential fines of up to $35 million for Mashinsky.
- 03Mashinsky is currently serving a 12-year prison sentence for federal fraud charges.
- 04Over $48 million in assets have already been seized from Mashinsky in the federal case.
- 05Celsius went bankrupt in 2022, freezing customer assets.
- 06The New York Attorney General's office filed the lawsuit against Mashinsky in 2023.
The settlement aims to prevent him from further defrauding investors after Celsius collapsed in 2022. The lawsuit was filed in 2023.
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