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Cryptocurrency News

Celsius CEO Alex Mashinsky resigns

09/27/2022

Less than a minute

2022.09.27 14:48

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Celsius CEO Alex Mashinsky resigns

According to a new press release published on Tuesday, Alex Mashinsky, CEO of troubled crypto lender Celsius Network, has resigned effective immediately. In explaining the decision, Mashinsky wrote:

Founded in 2017, Celsius Network was a rising star in the crypto-lending space, surpassing over 1.7 million customers, $25 billion in assets under management, and $850 million in cumulative interest paid earlier this year. However, its fortunes took a drastic turn when the ongoing crypto winter exposed the firm’s risky, leveraged trading practices.

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09/27/2022

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