- NY Attorney General Letitia James permanently barred former Celsius CEO Alex Mashinsky from the securities, commodities and crypto industries.
- The up to $35M is conditional: $25M is owed if Mashinsky fails to forfeit $10M more to the federal government, and $10M is owed if he does not serve his full sentence.
- James sued Mashinsky in 2023, alleging he misled hundreds of thousands of investors, including more than 26,000 New Yorkers, about Celsius safety.
- Mashinsky is serving 12 years in federal prison after pleading guilty to fraud and has asked a court to vacate the sentence.
- Celsius creditors and customers have received more than $3.4 billion through bankruptcy proceedings as of August 2026.
Quotes
“Alex Mashinsky promised New Yorkers that his company was a secure place to invest their hard-earned savings, only to leave them penniless when his risky investments collapsed”
“I will not allow scammers to use cryptocurrencies to prey on unsuspecting New Yorkers”