New York permanently bars Celsius founder Mashinsky in $35M fraud settlement

The permanent nature of the ban, rather than a fine alone, is the signal: New York is treating founder-level misconduct as a career-ending matter, not a cost of doing business. That raises the personal stakes for anyone weighing similar risk at other crypto lenders. The open question is whether other state regulators adopt the same template or leave enforcement to the federal cases still surrounding Celsius's collapse.