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10/10/2026

NY AG Bans Mashinsky, Recovers Up to $35M in Celsius Fraud Case

What happened: New York Attorney General Letitia James announced a settlement with former Celsius CEO Alex Mashinsky, securing up to $35 million in payments and imposing a permanent ban from securitie

NY AG Bans Mashinsky, Recovers Up to $35M in Celsius Fraud Case

What happened: New York Attorney General Letitia James announced a settlement with former Celsius CEO Alex Mashinsky, securing up to $35 million in payments and imposing a permanent ban from securities, commodities, and crypto industries in New York. The deal includes $10 million forfeiture, $25 million to the state, and a $10 million early-release penalty. Mashinsky, already serving a 12-year federal sentence, was found liable for fraud affecting over 26,000 New Yorkers. Celsius creditors have received over $3.4 billion through bankruptcy proceedings.

Why it matters: The settlement is largely symbolic, given Mashinsky’s incarceration and bankruptcy, but it closes a high-profile chapter in crypto enforcement and bars him from any future industry activity. It also highlights the multi-agency approach, with previous FTC and CFTC actions. The scale of restitution to creditors underscores both the damage and the partial recovery achieved.

Source: The Block