Since crypto lending company Celsius went bankrupt in July, it has been in the news a lot. On the one hand, there are its creditors claiming their $1.9 billion in cash. On the other hand, there are its executive directors who are resigning. Last month, Alex Machinsky stepped down as CEO. Now it’s Daniel Lyon, the company’s other co-founder, who is submitting his letter of resignation. What’s going on ?
Waltz of resignations in the cryptocurrency industry
Daniel Leon and Alex Mashinsky founded the cryptocurrency lending company Celsius in 2017. On September 27, Mashinsky submitted his resignation letter. He explained in the document that his role as CEO was “You become an increasing distraction“. Daniel Lyon He decided to follow in the footsteps of his assistant. He left the position of chief strategy officer he held within the company. Now, the crypto industry totals At least 8 executive resignations in recent months.
In fact, several CEOs working at major crypto companies have left their positions this year. For example, Michael Saylor, Jesse Powell, and Brett Harrison left their presidential positions at MicroStrategy, Kraken, and FTX US, respectively. Michael Morrow also resigned when he was CEO of Genesis. There’s also Matthew Ballensweg, who recently stepped down as CEO of Genesis.
Daniel Lyon’s position at C will now be filled by Lior Koren. According to CNBC, the new director will work from Israel. You should know that he served as Global Tax Director at Inside contractor. However, Celsius is currently trying to restructure itself financially. An auction of the company’s assets is scheduled for October 20. Sam Bankman-Fried, CEO of FTX, appears to be among those interested in these assets.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I resolved to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.