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 $10 million required to be paid.

“Mashinsky is permanently restrained and enjoined from advertising, marketing, promoting, offering, or distributing, or assisting in the advertising, marketing, promoting, offering, or distributing of any product or service that can be used to deposit, exchange, invest, or withdraw assets,…