PANews reported on April 30th that, according to The Block, Decrypt reported that former Celsius CEO Alex Mashinsky reached a $10 million settlement with the U.S. Federal Trade Commission and was permanently banned from the cryptocurrency industry. The settlement significantly reduced the initial $4.7 billion fine, with most of the judgment suspended. The court ordered a permanent ban on Mashinsky from "advertising, marketing, promoting, offering, or distributing" any products involving the deposit, exchange, or investment of assets. The suspended judgment can be reinstated if Mashinsky fails to disclose material assets, misrepresents asset values, or makes material misrepresentations in financial disclosures. Mashinsky is currently serving a 12-year prison sentence for crimes including commodity fraud and manipulating the price of Celsius's native token, CEL.