Updates on Celsius

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Alex Mashinsky and Daniel Leon

Celsius’s Top Executives Withdrew $17M Before Company’s Bankruptcy.

Ex-CEO Alex Mashinsky and ex-CSO Daniel Leon pulled Bitcoin, Ether, USDC, and CEL holdings from their custody account in May before the company suspended all customer withdrawals.

Previously, it was touted that Celsius's Top 3 Execs – CEO, CSO, and CTO- withdrew $56M, but the withdrawn funds were not up to that amount. CTO Nuke Goldstein didn't move out his holdings from the platform but moved to and from different accounts, all maintained within Celsius. Nuke provided proof of the money flow within the platform.

Community angry at Withdrawals

The Celsius community expressed anger over the news of withdrawals and internal funds transfers.  Many are angry over the use of their privileged positions to carry out some withdrawals before suspending all customers' withdrawals while some others believe there was deceit and fraud in play.

CEO and CSO, leaves Celsius

CEO and co-founder Alex Mashinsky resigned on September 27, while CSO and co-founder Daniel Leon's resignation news came out on the 4th of October.

Retail Assets are to be auctioned on November 18

Celsius will auction its retail assets on November 18 if the court approves its auction proposal. The court hearing for Celsius’ motion is scheduled for October 20. FTX is reportedly readying a bid to purchase Celsius assets.

Written by
Trust Akpobome

Celsius’s Top Executives Withdrew $17M Before Company’s Bankruptcy.

Ex-CEO Alex Mashinsky and ex-CSO Daniel Leon pulled Bitcoin, Ether, USDC, and CEL holdings from their custody account in May before the company suspended all customer withdrawals.

Previously, it was touted that Celsius's Top 3 Execs – CEO, CSO, and CTO- withdrew $56M, but the withdrawn funds were not up to that amount. CTO Nuke Goldstein didn't move out his holdings from the platform but moved to and from different accounts, all maintained within Celsius. Nuke provided proof of the money flow within the platform.

Community angry at Withdrawals

The Celsius community expressed anger over the news of withdrawals and internal funds transfers.  Many are angry over the use of their privileged positions to carry out some withdrawals before suspending all customers' withdrawals while some others believe there was deceit and fraud in play.

CEO and CSO, leaves Celsius

CEO and co-founder Alex Mashinsky resigned on September 27, while CSO and co-founder Daniel Leon's resignation news came out on the 4th of October.

Retail Assets are to be auctioned on November 18

Celsius will auction its retail assets on November 18 if the court approves its auction proposal. The court hearing for Celsius’ motion is scheduled for October 20. FTX is reportedly readying a bid to purchase Celsius assets.

Written by
Trust Akpobome