A New York Southern District Court has approved a settlement between the U.S. Commodity Futures Trading Commission (CFTC) and Celsius Network founder Alex Mashinsky. He has been permanently banned from trading on CFTC-regulated markets and from registering with the regulator.
The CFTC filed a lawsuit against Celsius and Mashinsky in 2023, alleging that they misled clients about the safety and profitability of the platform, which attracted around $20 billion. In May 2025, Mashinsky was sentenced to 12 years in prison for fraud-related charges.