NY AG secures $35M settlement and crypto ban from Celsius founder Mashinsky

New York's Attorney General has settled a civil case against Alex Mashinsky, the founder of the failed crypto lender Celsius. Mashinsky, who is already serving a 12-year sentence for fraud, was accused of misleading Celsius customers about the company's safety. As part of the settlement, he will pay up to $35 million and is banned for life from conducting business in New York's crypto industry. The agreement resolves state allegations that his deceptive practices contributed to the platform's collapse.