Celsius founder Alex Mashinsky has been permanently banned from trading markets regulated by the CFTC. This follows his 12-year prison sentence for securities and commodities fraud and a prior FTC ban from the crypto ecosystem.
Federal prosecutors proposed a late 2026 retrial for Tornado Cash co-founder Roman Storm, who was found guilty on one of three charges. A jury deadlocked on the remaining charges of conspiracy to commit money laundering and violate sanctions, leading to the potential retrial.
Alex Mashinsky, founder of defunct crypto lending platform Celsius, files motion to vacate 12-year prison sentence citing ineffective counsel due to financial conflict of interest with his legal firm, which had ties to FTX's Sam Bankman-Fried.
Alex Mashinsky, former CEO of collapsed crypto lending platform Celsius Network, settled with the FTC for $10 million and received a lifetime ban from the cryptocurrency industry. The settlement reduces an initial $4.7 billion judgment tied to customer losses from Celsius's 2022 bankruptcy. The suspended judgment can be reinstated if Mashinsky fails to disclose assets or makes material misstatements. Mashinsky is currently serving a 12-year prison sentence after pleading guilty in December 2024 to commodities fraud and CEL token price manipulation.
The FTC order ties Mashinsky’s $10 million payment to a mostly suspended $4.72 billion judgment that can be revived over asset disclosures.
