Alexander Mashinsky, the founder and former CEO of Celsius Network, is now permanently banned from trading commodities and from registering with the Commodity Futures Trading Commission. A US District Court judge approved the consent order on June 12, 2026, formally closing the book on the CFTC’s enforcement action against one of crypto’s most high-profile fraudsters.
Mashinsky admitted to the allegations laid out by the CFTC as part of the agreement.
The long paper trail
The CFTC first filed its enforcement action against Mashinsky in July 2023. That wasn’t a solo effort. The Department of Justice, the Securities and Exchange Commission, and the Federal Trade Commission all launched parallel investigations around the same time, each zeroing in on a similar set of accusations.
The core allegation across agencies: Mashinsky and Celsius misrepresented the safety and risk profile of their platform to convince customers to deposit digital assets. Those customers collectively lost an estimated $4.7 billion.
