Daniel Leon – Celsius Co-founder Stepped Down

After the final bankruptcy announcement, many senior executives in Celsius resigned. Some of them are Daniel Leon – who has just stepped down today and his Co-founder, CEO Alex Mashinsky has stopped his roles at the firm last week. 

“We confirm that Daniel Leon resigned from his position at Celsius and is no longer part of the organization.”

Daniel Leon and Mashinsky started Celsius in 2017. According to the court filing, until 5 Sept, Leon owned 32,600 shares of Celsius’s common stock.

The firm has filed for bankruptcy after the high-risk bets before the winter crypto, having thousands of investors in a lurch. In July, the company disclosed a loss of $1.19 billion. The bankruptcy is still in the round of examining the firm’s misconduct.

Celsius has promoted its products as the same as traditional deposit funds, by which customers can have interest based on their coins without disclosing risk terms of payment. 

According to the Monday filing, the firm has accepted the asset bidding for the loss with the estimated auction date on 20 Oct, and a sale hearing is organized on 1 Nov.

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Ken

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