CFTC Permanently Bans Celsius Founder From Trading
Alex Mashinsky hit with lifetime trading ban as CFTC settles its 2023 lawsuit against the disgraced crypto lender's founder.
Celsius founder Alex Mashinsky just got permanently locked out. The Commodity Futures Trading Commission has banned him from trading in any market under its jurisdiction — for life.
The ban comes as part of a settlement resolving the CFTC's 2023 lawsuit against Mashinsky. The agency had targeted him over his role at Celsius, the crypto lending platform that spectacularly collapsed and left customers unable to access billions in deposits.
This is the latest hammer to fall on Mashinsky, who became one of the most prominent faces of crypto's 2022 meltdown. The permanent trading ban is about as severe as regulatory consequences get short of prison time.
The settlement effectively closes the book on the CFTC's civil case, though Mashinsky's legal troubles have extended across multiple fronts since Celsius imploded.