Ex-Celsius CEO Mashinsky gets U.S. CFTC ban in final resolution with regulator

Alexander Mashinsky, the founder of the defunct cryptocurrency lending platform Celsius, has been permanently banned from registering with the U.S. Commodity Futures Trading Commission (CFTC) as part of a final resolution with the regulator. This ban follows his earlier imprisonment for fraud charges related to the collapse of Celsius. The CFTC's action prohibits Mashinsky from engaging in any commodity derivatives transactions and from acting as a principal or associated person of any registered entity. In September 2023, Mashinsky was indicted on charges including securities fraud, commodities fraud, and market manipulation, with prosecutors alleging he defrauded Celsius customers out of billions of dollars. The CFTC's settlement with Mashinsky, announced on June 12, 2024, aims to prevent him from further participating in the digital asset markets. Celsius Network filed for bankruptcy protection in July 2022, listing over $1.1 billion in crypto assets and more than $4.3 billion in liabilities.