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News

Former Algorand CEO Steve Kokinos To Lead Acquisition Of Celsius Business

September 11, 2023 - Around 2 mins mins to read

Key Points:

  • Former Algorand CEO Steve Kokinos is set to become the CEO of the company slated to acquire Celsius’ business as part of its bankruptcy proceedings.
  • The transition in leadership and potential acquisition signals significant developments in Celsius’ future, with creditors voting on the sale plan before September 22.
Steve Kokinos, former CEO of Algorand, is claimed to have served as CEO of the company that would take over the Celsius business.
Former Algorand CEO Steve Kokinos To Lead Acquisition Of Celsius Business

In a recent development, court documents filed on Friday have unveiled that former Algorand CEO Steve Kokinos will assume the role of CEO for the company set to take over Celsius’ operations. Celsius had previously filed for bankruptcy, and creditors are currently in the process of voting on whether to approve the sale of Celsius to Fahrenheit Holdings.

The critical decision regarding the sale plan must be reached by creditors before September 22, and Steve Kokinos holds a significant stake in Fahrenheit Holdings, making him a key player in the potential acquisition.

The new company’s board of directors is set to feature executives with diverse backgrounds, including individuals from WeWork, Lehman Brothers, and notable figures from the Bitcoin mining sector. Furthermore, two members from Celsius’ committee of creditors will also join the board, ensuring a comprehensive representation of interests.

The involvement of Steve Kokinos, an experienced leader in the blockchain and cryptocurrency space, signals potential positive developments for Celsius’ future. His appointment as CEO suggests a commitment to revitalizing and expanding the business.

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.

News

Former Algorand CEO Steve Kokinos To Lead Acquisition Of Celsius Business

Key Points:

  • Former Algorand CEO Steve Kokinos is set to become the CEO of the company slated to acquire Celsius’ business as part of its bankruptcy proceedings.
  • The transition in leadership and potential acquisition signals significant developments in Celsius’ future, with creditors voting on the sale plan before September 22.
Steve Kokinos, former CEO of Algorand, is claimed to have served as CEO of the company that would take over the Celsius business.
Former Algorand CEO Steve Kokinos To Lead Acquisition Of Celsius Business

In a recent development, court documents filed on Friday have unveiled that former Algorand CEO Steve Kokinos will assume the role of CEO for the company set to take over Celsius’ operations. Celsius had previously filed for bankruptcy, and creditors are currently in the process of voting on whether to approve the sale of Celsius to Fahrenheit Holdings.

The critical decision regarding the sale plan must be reached by creditors before September 22, and Steve Kokinos holds a significant stake in Fahrenheit Holdings, making him a key player in the potential acquisition.

The new company’s board of directors is set to feature executives with diverse backgrounds, including individuals from WeWork, Lehman Brothers, and notable figures from the Bitcoin mining sector. Furthermore, two members from Celsius’ committee of creditors will also join the board, ensuring a comprehensive representation of interests.

The involvement of Steve Kokinos, an experienced leader in the blockchain and cryptocurrency space, signals potential positive developments for Celsius’ future. His appointment as CEO suggests a commitment to revitalizing and expanding the business.

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.