TechFlow News, April 29: According to a Cointelegraph report, Alex Mashinsky, founder of Celsius, has reached a settlement agreement with the U.S. Federal Trade Commission (FTC), agreeing to pay $10 million and accepting a permanent ban on promoting, marketing, or distributing any products or services related to asset deposits, exchanges, investments, or withdrawals. The court also issued a monetary judgment of $4.72 billion, but most of it is temporarily suspended—this judgment will be immediately reinstated if Mashinsky is found to have concealed or misrepresented assets in his financial disclosures. Previously, Mashinsky was sentenced in May 2025 to 12 years’ imprisonment for commodity fraud and securities fraud.
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