Alex Mashinsky—CEO of the bankrupt crypto lender Celsius Network—has submitted a letter of resignation to the company’s Board of Directors, according to a press release from a New York law firm on Tuesday.
“I elected to resign my post as CEO of Celsius Network today,” said Mashinky in a statement. “Nevertheless, 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.”
In his official letter, Mashinsky said that he regretted how much of a “distraction” his presence had become as the company’s CEO.
“I am very sorry about the difficult financial circumstances members of our community are facing,” he added.
Mashinsky was allegedly responsible for a series of poor trades in early 2022 that precipitated the crypto lender’s downfall.
Celsius' road to bankruptcy
Celsius was one of the first major crypto lenders to freeze user...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...