Ex-Celsius CEO banned from trading

The Commodity Futures Trading Commission (CFTC) has finalized its case against Alexander Mashinsky, the former CEO of the failed crypto lender Celsius. Mashinsky, who is already serving a 12-year prison sentence for fraud, has now been permanently banned from engaging in any commodities activity. This regulatory action prohibits him from seeking business with the CFTC or participating in any trading it oversees. The CFTC's settlement, approved by a judge, stems from allegations that Mashinsky and Celsius defrauded hundreds of thousands of customers by misrepresenting the safety and profitability of the platform.