While the crypto market is on the verge of the crypto winter, crypto lending platform Celsius Network declared the reorganization of its board of directors. The move came when the platform is battling to stabilize its liquidity and operations amid the ongoing crypto bear market.
The filing published on Wednesday revealed that two finance executives, David Barse and Alan Jeffrey Carr took the oath as directors on June 28 and June 29 respectively.
Both the directors run their independent businesses. Mr. Barse is the founder and CEO of index company XOUT Capital and the founder of private family office DMB Holdings.
On the other hand, Mr. Carr is the CEO of Drivetrain. It is a fiduciary services firm that leads complex restructurings and litigations and manages portfolios in distressed investments.
Both are now holding new authority as directors alongside Celsius CEO Alex Mashinsky and Shlomi Daniel Leon, Celsius’s co-founder and chief strategy officer.
The filing also unveiled the termination of Gilbert Nathan, John Stephen Dubel, and Laurence Anthony Tosi in the last month. Surprisingly, Dubel has just joined the board of directors a week ago.
The restructure of the board of directors came after Celsius temporarily suspended withdrawals and transfer services on its platform after the liquidation crisis.