Another Celsius CEO resigns!

Another Celsius CEO resigns!

It’s been in the news a lot since crypto-lending firm Celsius went bankrupt in July. On the one hand are its creditors, who claim their funds in the amount of 1.9 billion dollars. On the other hand, there are its managers who are resigning. Last month, Alex Mashinski resigned as CEO. Now Daniel Leon, the company’s other co-founder, is handing in his resignation letter. What’s happening ?

The waltz of resignations in the crypto industry

Daniel Leon and Alex Mashinski founded the crypto lending company Celsius in 2017. On September 27, Mashinski submitted his resignation letter. He explained in the document that his role as chief executive was “become a growing distraction“. Daniel Leon has decided to follow in the footsteps of his colleague. He left the position of chief strategy officer that he held in the company. Now the crypto industry amounts to the total at least 8 executive resignations in recent months.

Celcius Network: No More Resignations, Co-Founder Resigns?

In fact, various executives working at major crypto companies have left their positions this year. For example, Michael Saylor, Jesse Powell, and Brett Harrison left their president positions at MicroStrategy, Kraken, and FTX US, respectively. Michael Moreau also resigned as CEO of Genesis. There’s also Matthew Ballenswig, who recently stepped down as CEO of Genesis.

Daniel Leon’s position at Celsius will now be filled by Lior Koren. According to CNBC, the new manager will work from Israel. You should know that he held the position of Global Tax Director in the company. However, Celsius is currently trying to restructure itself financially. An auction for the company’s assets is scheduled for October 20. Sam Bankman-Fried, CEO of FTX, appears to be among those interested in these assets.

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Luke Jose Ajinaku's avatar
Luke Jose Ajinaku

Far from dampening my enthusiasm, a failed cryptocurrency investment in 2017 only increased my enthusiasm. So I decided to research and understand the blockchain and its many uses and to impart with my pen information related to this ecosystem.

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