Svmuu News: Celsius founder Alex Mashinsky has reached a settlement with the U.S. Federal Trade Commission (FTC), agreeing to pay $10 million and is permanently banned from promoting products or services related to depositing, exchanging, investing in, or withdrawing assets.
According to the court order, the majority of the previous FTC judgment of $4.72 billion in damages has been suspended. However, if there are significant omissions or false statements in Mashinsky's financial disclosures, the relevant judgment amount can be reinstated. Previously, in 2025, Mashinsky was sentenced to 12 years in prison for commodity fraud and securities fraud. (Cointelegraph)