New York State permanently bans Alex Mashinsky from involvement in the cryptocurrency industry, involving a $35 million settlement

The New York State Attorney General's Office has reached a settlement with Alex Mashinsky, former CEO of Celsius, permanently prohibiting him from participating in the securities, commodities, and cryptocurrency industries. The settlement agreement involves up to $35 million in conditional payments. If Alex Mashinsky fails to confiscate $10 million in illegal gains from the federal government as agreed, he must pay $25 million to the state of New York; If the 12 year sentence has not been served, an additional $10 million must be paid. The case involves over 26000 New York state investors.