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59 Greed
Regulation Neutral

New York secures up to $35M and industry ban from Alex Mashinsky

CryptoVideos brief
Built from 6 sources 1 min read
New York secures up to $35M and industry ban from Alex Mashinsky Image: Decrypt
Image via Decrypt.

New York Attorney General Letitia James announced a settlement with former Celsius CEO Alex Mashinsky. It requires him to pay up to $35 million to the state. The deal bars him from trading securities or crypto. Mashinsky was sentenced to 12 years in prison after pleading guilty to fraud charges. New York alleged Celsius and Mashinsky misled more than 26,000 New York investors. Celsius filed for Chapter 11 bankruptcy in July 2022.

Key points

  1. New York Attorney General Letitia James secured up to $35 million from former Celsius CEO Alex Mashinsky.
  2. Mashinsky is barred from trading securities or crypto and from the securities, commodities and crypto industries.
  3. Mashinsky was sentenced to 12 years in prison in May 2025 after pleading guilty to fraud charges.
  4. New York alleged Celsius and Mashinsky misled more than 26,000 New York investors.
  5. Celsius filed for bankruptcy in 2022, and Mashinsky faced state and federal fraud actions.

Why it matters

The settlement adds a state penalty and trading ban to Mashinsky's federal sentence. New York pursued separate fraud claims tied to Celsius, which filed for bankruptcy in 2022.

What's unclear

How much New York will ultimately collect is unresolved because the $35 million is conditional and depends on federal forfeiture and prison sentence outcomes.
Mashinsky has asked a court to vacate his 12-year sentence, but the outcome is not reported.

Sources · 6 publishers

Crypto Briefing Tier 2 First report
New York AG Letitia James secures up to $35M from former Celsius CEO Alex Mashinsky
The Block Tier 1
New York AG secures up to $35 million from former Celsius CEO Alex Mashinsky
CoinDesk Tier 1
New York AG secures up to $35 million and lifetime crypto ban from Celsius’ Alex Mashinsky
Decrypt Tier 1
New York AG Secures Up to $35M and Industry Ban From Ex-Celsius CEO Alex Mashinsky
Unchained Tier 1
New York Permanently Bars Ex-Celsius CEO Mashinsky From Crypto and Securities Industries
Bitcoin.com News Tier 2
Celsius Founder Alex Mashinsky Gets Lifetime Ban From New York AG

Coverage timeline

  1. First reported by Crypto Briefing
  2. Confirmed by The Block
  3. CryptoVideos brief published
  4. 1 more publisher added to sources
How this brief was made. Our system found this event in 6 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error

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