Celsius co-founder Leon Goldstein to pay more than US$6M

• Celsius Network co-founder Leon Goldstein has agreed to pay more than US$6 million to settle US Federal Trade Commission allegations.
• The settlement resolves claims related to Goldstein's role in the failed cryptocurrency lending platform.
• The agreement is subject to court approval and does not include an admission of wrongdoing.

Leon Goldstein, a co-founder of Celsius Network, has agreed to pay more than US$6 million to settle allegations brought by the US Federal Trade Commission over his involvement with the collapsed cryptocurrency lender.

The proposed settlement resolves the FTC's claims against Goldstein as regulators continue pursuing enforcement actions linked to Celsius Network's failure in 2022.

The FTC alleged that Celsius and several of its former executives misled customers about the safety of the platform and the way it managed customer deposits before the company filed for bankruptcy.

The settlement does not require Goldstein to admit or deny the allegations, and it must still receive approval from the court before taking effect.

Celsius Network collapsed after freezing customer withdrawals during the 2022 cryptocurrency market downturn, leaving billions of dollars in customer assets tied up in bankruptcy proceedings.

The latest agreement marks another step in the regulatory response to the collapse of Celsius as US authorities continue seeking accountability from former executives involved with the company.