Celsius Network founder banned from crypto sector in settlement with NY AG

( October 9, 2026, 13:51 GMT | Official Statement) -- MLex Summary: New York Attorney General Letitia James announced that she has secured up to $35 million from Alex Mashinsky, a co-founder and former CEO of cryptocurrency lending platform Celsius Network LLC, as well as a permanent ban on his participation in the securities, commodities and cryptocurrency industries. Under a settlement, Mashinsky must pay $25 million to New York if he fails to forfeit $10 million in ill-gotten gains to the federal government, in addition to already forfeited assets, as part of his federal plea agreement. Mashinsky must also pay $10 million to New York if he does not serve his full prison sentence, as mandated by the criminal court and overseen by the Bureau of Prisons.Statement follows below. Document attached....

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