The Commission has permanently banned Celsius founder Alex Mashinsky from trading on markets under its supervision. In 2023, he was arrested for fraud and misrepresenting Celsius's profitability. Mashinsky was sentenced to 12 years in prison and the forfeiture of $50 million. He and his company deceived hundreds of thousands of people out of billions of dollars. Mashinsky is prohibited from trading U.S. commodities, futures, and derivatives. As part of a settlement with the SEC, the Securities Commission has barred him from working in the cryptocurrency and financial sectors. He is not allowed to participate in any investment products and services. Meanwhile, former FTX head Sam Bankman-Fried (involved in an $11 billion fraud) plans to release a new token after his release from prison.