Celsius Network CEO resigns
Alex Mashinsky will continue to work on the reorganization of the company
28.09.2022 - 10:15
361
2 min
0
What’s new? On September 27, the CEO of the bankrupt crypto lending platform Celsius Network, Alex Mashinsky, tendered his resignation. According to a letter obtained by BusinessWire, this decision took effect immediately. Mashinsky also said that he will continue to work with the company and its advisors to carry out a successful reorganization.
What else did Mashinsky add? In a statement to the Celsius Board of Directors, the former head of the company asked that he be removed from all management positions, including those at subsidiaries, except as a director position at Celsius Network Ltd.
“I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing,” Mashinsky’s letter reads.
Earlier, Mashinsky proposed a new plan to restructure the company, under which Celsius would focus on digital asset custody services and become a crypto custodial platform. The project was given the working name Kelvin.
In early September, Celsius filed for a $50 million refund to customers. The funds are not part of the bankruptcy estate. In August, Celsius’ creditor committee began investigating the platform’s CEO and insiders. The purpose of the committee is to maximize recovery to customers and to explore options for restructuring or selling the business.
To find out what caused the bankruptcy of Celsius, one of the largest crypto lenders, see GetBlock Magazine’s feature.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$99 616
BTC
+1.7%
-
Ethereum
$3 286.62
ETH
-1.75%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.42
XRP
+21.47%
-
Dogecoin
$0.399307
DOGE
+3.8%
-
Cardano
$0.967675
ADA
+21.52%
-
Stellar XLM
$0.322748
XLM
+31.62%
-
Bitcoin Cash
$487.34
BCH
+0.6%
-
Polkadot
$6.32
DOT
+8.39%
-
Litecoin
$90.62
LTC
+2.06%