Celsius Token’s Price Volatility After CEO Mashinsky Resigns
The price of Celsius (CEL) fell below $1.4 following the resignation of CEO Alex Mashinsky amid the crypto lender’s ongoing bankruptcy case, but it regained momentum quickly.
After Celsius Network CEO Alex Mashinsky announced his resignation on the evening of August 28, the CEL token quickly plunged by more than 10% shortly after. However, CEL rebounded strongly to 15% when gaining great motivation from FTX CEO Sam Bankman-Fried.
At the time of writing, CEL is trading at $1.5258.
Accordingly, Mr. Sam Bankman-Fried is looking forward to owning Celsius’ assets through the company’s auction. Just a day ago, FTX overwhelmed Binance in an auction to buy Voyager Digital’s assets worth about $1.4 billion, along with a statement that the exchange still had $1 billion to spend on acquisitions.
All stats show Celsius will run out of money in October 2022, so it’s possible the auction of the company’s assets will take place soon in the near future. It is worth noting that not only FTX is interested in this deal, but there is also a high possibility that Ripple – the representative also considered buying Celsius assets to expand the company’s position. However, so far Ripple has not made any further comment.
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