According to a press release, the CEO of bankrupt crypto lender Celsius, Alex Mashinsky has resigned from his position.
“I elected to resign my post as CEO of Celsius Network today. Nevertheless, I will continue to maintain my focus on working to help the community unite behind a plan that will provide the best outcome for all creditors – which is what I have been doing since the Company filed for bankruptcy ” he wrote in the press release statement.
The chief financial officer of the company, Chris Ferraro has been appointed the interim CEO and the chief restructuring officer, effective immediately.
The Official Committee of Unsecured Creditors, a group of former Celsius customers acting as liaisons for the company’s bankruptcy case, said it had asked for Mashinsky’s removal from the company.
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The group filed a statement in the bankruptcy court which said that after reviewing everything “the Committee concluded that allowing Mr. Mashinsky to remain as CEO was unacceptable and not in the best interests of the estates, and that new executive leadership was required.”
The Committee also concluded that any restructuring plan associated with Mashinsky would likely face significant challenges.
The Committee also indicated that they might sue Mashinsky for any damages they believe he owes them personally.
