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Updates on Celsius

Published date:

February 2, 2026

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Previously, it was touted that Celsius's Top 3 Execs – CEO, CSO, and CTO- withdrew $56M, but the withdrawn funds were not up to that amount.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

Movement of funds between accounts (1/2) pic.twitter.com/Zcs6UL6X9R
— Nuke Goldstein (@NukeGold) October 6, 2022

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.

I would love to hear the “context” of why insiders were moving funds around while mine were frozen.

However in “context” I think those responsible for mismanaging funds should be contributing their own funds to fill the hole!!
— EmeraldIsler (@EmeraldisleMatt) October 6, 2022

I am sorry for all that did not get the same chance to withdraw as they believed more than the founders. The best we can do is ensure we unite around a creditor-led reorg. without insiders “Celsius’ Top 3 Execs Cashed Out $56M in Crypto Before Bankruptcy” https://t.co/afWL3yLqkT
— Simon Dixon (Beware Impersonators) (@SimonDixonTwitt) October 6, 2022

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.

How we reviewed this article

All Bitcompare articles go through a rigorous review process before publication. Learn more about our Editorial Process and Risk Warning.

Trust Akpobome

Written by:

Trust Akpobome

Crypto Writer and Editor

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

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

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