Celsius CEO began selling CEL tokens amid the rise in the asset’s rate
Alex Mashinsky exchanged 17 475 CEL for ETH worth $28 242
![Celsius CEO began selling CEL tokens amid the rise in the asset’s rate](https://storage.getblock.net/source/1/4w6leKqObd9GwbhgnL34kswsa8GDxsxn.webp)
10.08.2022 - 13:10
273
2 min
0
What’s new? Analytics companies Nansen and Arkham Intelligence recorded several transactions that were made through an address associated with the head of the bankrupt lending platform Celsius Network Alex Mashinsky. According to Etherscan, he exchanged 17 475 Celsius’ (CEL) native tokens for ETH worth $28 242. According to CoinGecko, the asset is trading at $1,97 as of August 10, at 13:05 UTC, having gained 65,1% over the past week. According to EWN, Mashinsky is the largest holder of CEL after the Celsius treasury.
Celsius situation. On July 13, a month after freezing customer funds, Celsius settled its debts to creditors, returned collateral totaling more than $1 billion, and filed for bankruptcy to restructure. At the first court hearing, Celsius’ lawyers said that most of the user funds on the platform were actually at the company’s disposal.
On August 8, Celsius’ creditor committee launched an investigation into the head and insiders of the platform. The group intends to identify potential misconduct on the part of Mashinsky. The committee aims to compensate account holders and unsecured creditors, as well as explore options for further business development.
For more details on what led to the collapse of Celsius, one of the largest crypto lenders, see GetBlock Magazine’s feature.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024