Celsius’ Mashinsky gets permanent trading ban in CFTC settlement

The US commodities watchdog has settled with Celsius founder Alex Mashinsky, ending the agency’s first-ever case against a crypto lending platform.

The US Commodity Futures Trading Commission has resolved its action against Celsius Network founder Alex Mashinsky, permanently banning him from trading in markets the commodities regulator oversees.

The CFTC said Thursday that a court consent order also bars Mashinsky from ever registering with the regulator and ends the enforcement action it first filed in 2023.

“Mashinsky and Celsius engaged in a scheme to defraud hundreds of thousands of customers by mispresenting the safety, profitability, and regulatory compliance of Celsius’ digital asset-based finance platform,” the regulator said.

Read more