Cointelegraph reported that Alex Mashinsky, CEO of the bankrupt cryptocurrency lending firm Celsius (CEL) Network, settled with the U.S. Federal Trade Commission (FTC) on the condition of paying a $10 million fine. In this ruling, the U.S. District Court for the Southern District of New York permanently banned Mashinsky from advertising and promoting services related to asset deposits, trading, investments, and withdrawals. This settlement is also linked to a total restitution judgment of $4.72 billion in 2023, and Mashinsky can defer the enforcement of the remaining restitution by first paying $10 million to the FTC. Previously, Mashinsky was indicted in July 2023 by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) on charges of market manipulation, and was sentenced to 12 years in prison last May.
