According to the report, Celsius and its subsidiaries are “forever prohibited from offering, selling or promoting any products or services that can be used to deposit, exchange, invest or withdraw any assets.”

The commission accused the company of providing unsecured loans in the amount of $1.2 billion and false statements about the possibility of withdrawing deposits at any time, as well as sufficient reserves to fulfill obligations.

The founders of the platform Alex Mashinsky, Nyuk Goldstein and S. Daniel Leon did not agree to a settlement agreement, the FTC noted. The Commission accused them of deceiving customers and making false statements.