[Former Celsius CEO Reaches Settlement with New York Attorney General, Faces Up to $35 Million in Penalties and Permanent Industry Ban] Odaily Planet Daily News – New York Attorney General Letitia James announced on Friday that a settlement has been reached with former Celsius CEO Alex Mashinsky over allegations of defrauding investors. The settlement includes conditional penalties of up to $35 million and requires Mashinsky to permanently exit the securities, commodities, and cryptocurrency industries. Previously, the U.S. Federal Trade Commission (FTC) and the Commodity Futures Trading Commission (CFTC) had also imposed industry bans on Mashinsky. Mashinsky is currently serving a 12-year prison sentence. On the other hand, Celsius creditors have received over $3.4 billion in repayments through the company's bankruptcy proceedings.