Celsius’s CEO Leaves The Company As It Struggles To Pay Its Debts
Alex Mashinsky, the founder and CEO of failed crypto lender Celsius, has resigned.
“I will continue to maintain my focus on working to help the community unite behind a plan that will provide the best outcome for all creditors – which is what I have been doing since the Company filed for bankruptcy,” Mashinsky said in a press release announcing the move. “I believe we all will get more if Celsians stay united and help the UCC with the best recovery plan.
Mashinsky has a long history of being a contentious and occasionally confrontational character in the cryptocurrency community. The failure of his company earlier this year resulted in increased scrutiny of both its management and business practices.
Celsius provided interest-bearing accounts to retail customers
While Celsius compared them to high-interest bank accounts, authorities have referred to those accounts as unregistered securities in the absence of government deposit protection.
When the cryptocurrency market crashed earlier this year, Celsius halted client withdrawals and filed for bankruptcy, making the enormous discrepancies in the company’s financial sheet public. The company has been in trouble for months despite persistent legal actions to recover debts.
In a statement on his resignation, Mashinsky said:
“I will continue to maintain my focus on working to help the community unite behind a plan that will provide the best outcome for all creditors – which is what I have been doing since the Company filed for bankruptcy.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
Author
News
Celsius’s CEO Leaves The Company As It Struggles To Pay Its Debts
Alex Mashinsky, the founder and CEO of failed crypto lender Celsius, has resigned.
“I will continue to maintain my focus on working to help the community unite behind a plan that will provide the best outcome for all creditors – which is what I have been doing since the Company filed for bankruptcy,” Mashinsky said in a press release announcing the move. “I believe we all will get more if Celsians stay united and help the UCC with the best recovery plan.
Mashinsky has a long history of being a contentious and occasionally confrontational character in the cryptocurrency community. The failure of his company earlier this year resulted in increased scrutiny of both its management and business practices.
Celsius provided interest-bearing accounts to retail customers
While Celsius compared them to high-interest bank accounts, authorities have referred to those accounts as unregistered securities in the absence of government deposit protection.
When the cryptocurrency market crashed earlier this year, Celsius halted client withdrawals and filed for bankruptcy, making the enormous discrepancies in the company’s financial sheet public. The company has been in trouble for months despite persistent legal actions to recover debts.
In a statement on his resignation, Mashinsky said:
“I will continue to maintain my focus on working to help the community unite behind a plan that will provide the best outcome for all creditors – which is what I have been doing since the Company filed for bankruptcy.”
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
Other Posts
Related Posts
Latest
Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says
Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains
EarnBet.io Sets New Benchmark with $2 Billion in Player Winnings and Unmatched Rewards Programs
Press Release
Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says
EarnBet.io Sets New Benchmark with $2 Billion in Player Winnings and Unmatched Rewards Programs
