The U.S. Commodity Futures Trading Commission (CFTC) settles its case against former Celsius Network founder and CEO Alexander (Alex) Mashinsky through a consent order that imposes a permanent trading ban. Multiple outlets report that the settlement prevents Mashinsky from trading in CFTC-regulated markets and from registering with the CFTC in the future, including after any prison term ends.
The agreement is described as the CFTC’s first-ever case against a crypto lending platform. In related coverage, courts are noted to have previously sentenced Mashinsky to 12 years in prison for fraud involving Celsius, which defrauded consumers of about $4.7 billion, according to the reporting. Courthouse News specifically ties the consent order to federal court proceedings in Manhattan.
Overall, the sources describe the CFTC resolution as a final regulatory action that bars Mashinsky from participating in CFTC markets and applying to register, while reflecting the outcome of his prior criminal conviction and incarceration for the Celsius-related fraud.
