Celsius Network Founder Mashinsky Settles With FTC, Pays $10 Million, Most of $4.72 Billion Judgment Suspended

**April 29 – Celsius Network founder Alex Mashinsky has settled with the Federal Trade Commission (FTC), per a court order issued by the U.S. District Court for the Southern District of New York on the same date.** Under the agreement: - Mashinsky is **permanently barred** from promoting any products or services used for depositing, exchanging, investing, or withdrawing assets. - A $4.72 billion judgment against him is imposed, though the vast majority of the amount is suspended. - He must pay $10 million to the FTC—this obligation can also be fulfilled by making an equal payment to the U.S. Department of Justice (DOJ) via a forfeiture order in his criminal case. Should Mashinsky be found to have omitted or misrepresented assets in his financial disclosures, the FTC may move to lift the suspension, triggering immediate enforcement of the full $4.72 billion judgment. **Background**: In May 2025, Mashinsky was sentenced to 12 years in prison on charges of commodity fraud and securities fraud. Prosecutors accused him of misleading Celsius users about the company’s profitability, investment risks, and the security of customer funds.