According to a recent report published on Tuesday, the Israeli-American founder and CEO of Celsius Network, Alex Mashinsky, was in charge of the company’s trading strategy. The report, citing multiple people familiar with the matter, said Mashinsky sold millions of dollars’ worth of bitcoin in anticipation to buy bitcoin cheap. Except after the CEO allegedly placed this bet, bitcoin markets followed the opposite trend, and the leading crypto asset accumulated some gains.
People Familiar With the Celsius Situation Say Mashinsky Was Trading on ‘Bad Information’
On Tuesday, the Financial Times (FT) reported on the embattled and bankrupt crypto lender Celsius and the company’s CEO. FT’s report citing people familiar with the situation explained that months before the company filed for bankruptcy protection, Mashinsky “took control of Celsius trading strategy.” Allegedly, the founder and CEO of Celsius made a number of bad bets with large sums of bitcoin (BTC) and other assets.
“He was...
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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...