Alex Mashinsky Receives Lifetime Ban from Working in Crypto

The state of New York has reached a settlement with Alex Mashinsky, founder of the bankrupt crypto lending platform Celsius. He agrees to a permanent ban from working in crypto, securities, and commodities. Mashinsky is prohibited from working in crypto or securities and from providing paid investment advice. Potential payments could amount to over €31 million, but this is not a direct fine. His personal purchases and sales of investments remain permitted. The ban applies to professional involvement in crypto, securities, or commodities, including roles as a publisher, trader, advisor, director, consultant, or promoter. The financial agreement consists of two parts: a compensation of over €22 million to New York, which will be waived if he pays approximately €9 million to the U.S. Department of Justice. A second amount of nearly €9 million will be waived when he completes his twelve-year prison sentence. Mashinsky pleaded guilty at the end of 2024 to fraud and manipulation of the CEL token and received a prison sentence in May 2025. The settlement was signed and filed with the court on October 8.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.