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Updates on Celsius

Trust Akpobome
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Trust Akpobome
Updates on Celsius
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Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Risk Warning and Our Editorial Process.

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Previously, it was touted that Celsius's Top 3 Execs – CEO, CSO, and CTO- withdrew $56M, but the withdrawn funds were not up to that amount.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.

‍

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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.

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Celsius Network
Celsius Bankruptcy
Alex Mashinsky
Daniel Leon
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Trust Akpobome
Written by:
Trust Akpobome
Co-Founder & CEO

Trust has been a freelance editor and writer for various publications in the last 2 years. His major interests are in the wild world of Blockchain, cryptocurrency, and the Metaverse.

About the Author

Trust has been a freelance editor and writer for various publications in the last 2 years. His major interests are in the wild world of Blockchain, cryptocurrency, and the Metaverse.

About the Author
Trust Akpobome
Reviewed by:
Trust Akpobome
Crypto Writer and Editor

Updates on Celsius

So much has been going on with embattled crypto lender Celsius. Here are some updates detailing the activities of its Top Execs and what the future holds for the lending platform.
Crypto lending
Dot
April 7, 2025
Trust Akpobome

Trust has been a freelance editor and writer for various publications in the last 2 years. His major interests are in the wild world of Blockchain, cryptocurrency, and the Metaverse.

in
TABLE OF CONTENTS
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.

‍

Celsius Network
Celsius Bankruptcy
Alex Mashinsky
Daniel Leon
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Crypto lending
October 7, 2022

Updates on Celsius

HomeCrypto lending
Blog Post
Contents
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.

‍

Celsius Network
Celsius Bankruptcy
Alex Mashinsky
Daniel Leon
Trust Akpobome

Trust has been a freelance editor and writer for various publications in the last 2 years. His major interests are in the wild world of Blockchain, cryptocurrency, and the Metaverse.

in

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 Network
Celsius Bankruptcy
Alex Mashinsky
Daniel Leon

Alex Mashinsky Steps Down As Celsius Network CEO

Crypto lending
September 27, 2022
Alex Mashinsky, CEO of defunct crypto lender, Celsius Network, has submitted his resignation letter. He will be stepping down immediately as the CEO but will still maintain his direct position as the company's founder.

Celsius’ Chief Strategy Officer Steps Down

Crypto lending
October 5, 2022
S. Daniel Leon, Celsius’ Co-Founder, resigned from his position as Chief Strategy Officer via an internal memo.

Celsius Submits Proposal For The Auction Of Its Retail Assets

Crypto lending
September 30, 2022
Celsius filed a notice to auction its retail assets and exit Chapter 11 bankruptcy. According to sources, FTX has set its sights on acquiring Celsius' assets.

Alex Mashinsky Withdrew $10 Million Days Before Freezing Clients' Accounts

Crypto lending
October 2, 2022
A Financial Times report revealed that Alex Mashinsky, former CEO of Celsius, withdrew $10 million shortly before freezing clients' funds in June. His representative claims the withdrawal was used for tax settlements.

Celsius’s Top 3 Executives Withdrew $56M Before Company’s Bankruptcy

Crypto lending
October 6, 2022
A new court record reveals that the top three executives of the now defunct crypto lending platform, Celsius, withdrew about $56.2 million before the company halted withdrawals and filed for bankruptcy.

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