CFTC permanently bans Celsius founder Alex Mashinsky from trading

The CFTC settled its case against Celsius founder Alex Mashinsky, permanently banning him from trading US commodities, futures and derivatives and ending the regulator's first action against a crypto lending platform.

• Mashinsky is permanently banned from trading in CFTC-regulated markets and from registering with the regulator.
• The CFTC alleged Celsius received $20 billion in funds and misled customers about safety and profitability.
• Mashinsky is already serving a 12-year prison sentence after pleading guilty to securities and commodities fraud.
• He is also permanently barred from working in crypto or finance per a separate FTC settlement.
• The SEC still has unresolved charges against Mashinsky, though settlement discussions are ongoing.

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