Celsius Founder Alex Mashinsky Settles FTC Case for $10 Million

Alex Mashinsky, founder of the now-defunct cryptocurrency lending platform Celsius Network, has agreed to a settlement with the Federal Trade Commission (FTC). As part of the agreement, Mashinsky will pay $10 million to the regulatory agency.

The order also includes a $4.72 billion judgment that is mostly suspended. This means that the full amount may become immediately enforceable if it is determined that Mashinsky omitted or misrepresented assets in his financial disclosures.