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Alex Mashinsky banned from crypto industry, must pay up to $35M in settlement over Celsius fraud

Market News
10 Oct 2026, 18:25 WIB
CrowdFundInsider
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Bearish
Alex Mashinsky banned from crypto industry, must pay up to $35M in settlement over Celsius fraud

New York Attorney General Letitia James secured a settlement permanently banning Alex Mashinsky, former CEO of Celsius Network, from securities, commodities, and cryptocurrency industries. Mashinsky was accused of defrauding investors by misrepresenting Celsius’s safety and hiding risky investments that led to massive losses. He faces conditional payments up to $35 million and is already serving a 12-year federal prison sentence. This settlement adds state-level penalties to ongoing federal actions and aims to protect investors from future harm.

The New York Attorney General's settlement with former Celsius Network CEO Alex Mashinsky provides context for cryptocurrency market activity. For readers following cryptocurrency, here is Pluang's market snapshot as of Oct 10, 2026 22:21 WIB: Of 50 major cryptocurrencies priced on Pluang, 41 rose and 8 fell today. Notable movers include DOT at Rp22.372 with a 7.90% increase and a typical hold time of 121 days, THETA at Rp4.133 up 6.16% with 100% buy order activity, and MANA at Rp1.725 rising 5.18% but with 89% sell orders.

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