A federal judge granted a joint request from Alex Mashinsky’s lawyers and the U.S. Department of Justice to modify the former Celsius CEO’s bail conditions, including electronic monitoring, Cointelegraph reported. On August 8, Judge Gabriel Gorenstein of the U.S. District Court for the Southern District of New York signed a modification of Mashinsky’s $40 million bail, which was secured by his brokerage account at First Republic Bank and his family in New York. Prosecutors and defense attorneys jointly signed a request to electronically monitor Mashinsky, restricting him from withdrawing, transferring or receiving more than $10,000 without prior court approval. The bail modification would eliminate the need to use Mashinsky's First Republic account to secure bail. Mashinsky faces charges of securities fraud, commodities fraud and wire fraud for allegedly misleading and defrauding users.