( October 9, 2026, 13:51 GMT | Official Statement) -- MLex Summary: New York Attorney General Letitia James announced that she has secured up to $35 million from Alex Mashinsky, a co-founder and former CEO of cryptocurrency lending platform Celsius Network LLC, as well as a permanent ban on his participation in the securities, commodities and cryptocurrency industries. Under a settlement, Mashinsky must pay $25 million to New York if he fails to forfeit $10 million in ill-gotten gains to the federal government, in addition to already forfeited assets, as part of his federal plea agreement. Mashinsky must also pay $10 million to New York if he does not serve his full prison sentence, as mandated by the criminal court and overseen by the Bureau of Prisons.Statement follows below. Document attached....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.