Celsius Founder Mashinsky Reaches Settlement with FTC, Pays $10 Million and Is Permanently Barred from Promoting Asset-Based Products
7x24h News
Celsius Founder Mashinsky Reaches Settlement with FTC, Pays $10 Million and Is Permanently Barred from Promoting Asset-Based Products
According to Cointelegraph, 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, though 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 in prison for commodities fraud and securities fraud.
Navigating Web3 tides with focused insightsTechFlow 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.
