Mashinsky CFTC Ban, ETH Exits, BTC Treasury Funding Vote

Today in crypto, Celsius founder Alex Mashinsky permanently lost the ability to trade on US commodities markets as the Ethereum Foundation lost another high-ranking contributor, and Capital B shareholders approved up to $120 billion in financing capacity to fund future Bitcoin buys.

CFTC permanently bans Celsius’ Mashinsky from trading

The US Commodity Futures Trading Commission resolved its yearslong legal battle against Celsius Network founder Alex Mashinsky on Thursday, permanently banning him from registering with it and trading in markets it oversees.

Earlier this year, the CFTC and the US Securities and Exchange Commission issued guidance saying they considered most major cryptocurrencies to be commodities, and Mashinsky’s ban means he will never be able to trade commodities, futures and derivatives.

Source: CFTC

The settlement ends, what the CFTC said when it filed it in 2023, was its first case against a digital asset lending platform and marks the end of one of the last remaining regulatory actions pending against Mashinsky.

Mashinsky was sentenced to 12 years in prison in May 2025 after pleading guilty to securities and commodities fraud for misleading Celsius’ customers about the safety of the crypto lending platform, which collapsed during a major market drawdown in 2022.

He still faces charges filed by the SEC in July 2023. The regulator told a federal court in late May that it has “engaged in substantive settlement discussions” with Mashinsky, but no agreement had been reached.

Ethereum Foundation leadership exodus continues with director’s departure

The Ethereum Foundation has lost another high-ranking contributor, amid increasing scrutiny of the research organization as the network faces ongoing questions about talent retention and governance philosophy.

In a post on X, co-executive director Hsiao-Wei Wang announced that she had stepped down from her role, effective immediately, following a recent sabbatical. Wang wrote that “Ethereum has always been bigger than any role” and indicated that she has not yet decided what she will do next.

Ethereum co-founder Vitalik Buterin commented on Wang’s an X post, acknowledging that she had taken on “the most challenging position in the Ethereum Foundation” alongside Tomasz Stanczak, who also stepped down from his leadership role earlier this year.

Source: Vitalik Buterin

The Ethereum Foundation has logged an estimated 19 layoffs and departures this year, although the loss of senior executives and core contributors has drawn the most attention. The wave of departures comes as the foundation grapples with intensifying competition, ongoing debate over Ethereum’s governance and long-term development strategy, and continued pressure on Ether’s market performance.

Capital B shareholders approve up to $120 billion in financing capacity

France-listed Bitcoin treasury company Capital B’s shareholders approved authorizations allowing the company to raise up to 105 billion euros ($120.4 billion) to fund future Bitcoin purchases.

Over 95% of shareholders approved the establishment of up to 5 billion euros in capital increases, equivalent to as many as 125 billion new shares at the current nominal value, as well as the issuance of up to 100 billion euros in credit instruments, Capital B announced on Wednesday.

The company said the issuance of the new capital instruments will “accelerate its Bitcoin accumulation strategy, focused on increasing the number of Bitcoin per fully diluted share over time.”

Source: Capital B

During its general meeting on Wednesday, Capital B reported 300.65 million in total shares with voting rights. If fully exercised, issuing 125 billion in new shares would result in existing shareholders being diluted to about 0.24% of the company’s ownership.