[New York State Permanently Bans Former Celsius CEO from Crypto Industry, Settlement Involves Conditional Payment of Up to $35 Million] According to an announcement from the New York State Attorney General's Office, Celsius co-founder and former CEO Alex Mashinsky has reached a settlement with the office, under which he will be permanently banned from participating in the securities, commodities, and cryptocurrency industries. The settlement involves conditional payments of up to $35 million: if he fails to forfeit $10 million in illegal proceeds to the federal government as agreed, he must pay $25 million to New York State; if he does not serve the full 12-year prison sentence, he will also be required to pay an additional $10 million. The case involves over 26,000 investors from New York State.