According to CoinMeta, the Attorney General of New York State Letitia James announced that a settlement has been reached with CEO Alex Mashinsky regarding fraud against investors prior to Celsius. The settlement requires him to pay up to $35 million in compensation and prohibits him from entering the securities, commodities, and cryptocurrency industries permanently. The U.S. Federal Trade Commission and the Commodity Futures Trading Commission have imposed an industry ban on Alex Mashinsky, who is currently serving a 12-year prison sentence. Celsius's creditors have received over $3.4 billion in compensation through bankruptcy proceedings.