NY Attorney General Secures Up to $35M From Ex-Celsius CEO, Permanently Bans Him From Crypto Industry
- —Mashinsky must pay New York $25 million if he fails to forfeit $10 million to the federal government
- —He owes New York another $10 million if he does not serve his full 12-year sentence
- —Celsius creditors have received more than $3.4 billion through the bankruptcy as of August 2026
- —Celsius founders and executives paid $16.5 million to the FTC
Why it matters: The settlement sets a precedent for holding crypto founders personally liable for investor fraud and raises pressure on lending platforms.
Source: Bing News (crypto query)