Alex Mashinsky, former CEO and founder of the defunct Celsius Network, has reached a $10 million settlement with the Federal Trade Commission (FTC) that permanently bans him from working in the cryptocurrency industry. The majority of the $4.7 billion judgment against Mashinsky has been suspended, with only $10m required to be paid. The settlement also imposes reporting and record-keeping requirements for up to 18 years. The ban follows a trend of increased regulatory scrutiny of crypto lending platforms.