In brief
- Alex Mashinsky settled with the FTC for $10 million and received a lifetime ban from the cryptocurrency industry.
- Agreement reduces an initial $4.7 billion judgment tied to customer losses from Celsius Network’s collapse.
- The suspended judgment can be reinstated if Mashinsky fails to disclose assets or makes material misstatements.
Alex Mashinsky, former CEO and founder of collapsed crypto lending platform Celsius Network, reached a $10 million settlement with the Federal Trade Commission that permanently bans him from working in the cryptocurrency industry.
The FTC initially secured a $4.7 billion judgment against Mashinsky tied to losses from the Celsius collapse, though the vast majority of that has been suspended, with only…
