New York Attorney General Letitia James secured a settlement with former Celsius CEO Alex Mashinsky that includes up to $35 million in conditional penalties and a permanent ban from the securities, commodities and cryptocurrency industries. According to NS3.AI, Mashinsky must pay New York $25 million if he fails to forfeit a further $10 million to the federal government under his plea agreement. He must also pay New York $10 million if he does not serve the full 12-year federal prison sentence.