CFTC Resolves Case Against Celsius Founder Mashinsky With Permanent Trading Ban

According to the CFTC, the U.S. District Court for the Southern District of New York has entered a consent order permanently banning Celsius founder Alex Mashinsky from trading in CFTC-regulated markets and registering with the agency in any capacity.

The settlement resolves the CFTC's civil enforcement action against Mashinsky, which was originally filed in July 2023 and alleged that Celsius and Mashinsky defrauded customers by misrepresenting the platform's safety and regulatory status. Celsius collapsed in 2022 after a liquidity crisis. The order does not impose a new civil monetary penalty, with the CFTC citing Mashinsky's prior criminal conviction and existing forfeiture obligations.