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HomeCrypto CompanyCelsius CEO Alex Mashinsky resigns

Celsius CEO Alex Mashinsky resigns

Alex Machinsky, who started cryptocurrency lending company Selsius Network in 2017, resigned from the company yesterday. He said his work had become an “increasing distraction.” On July 13, 2022, the company filed for bankruptcy due to “severe” market conditions.

Celsius CFO Chris Ferraro will be the former CEO’s interim replacement.

“Letter of resignation” by Alex Machinsky

Machinsky submitted his resignation letter, which immediately applies to the Special Committee of the Board of Directors of Celsius Network Ltd, regardless of his management and other functions in both its direct and indirect subsidiaries, with the exception of his position as Director of Celsius Network Ltd.

On 27 September 2022, Machinsky wrote in his resignation letter, “I have chosen to resign from my position as CEO of Celsius Network today. However, 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 I have been doing since the company filed for bankruptcy. ”

“I think we will all get more if the Celsians remain united and help the UCC with the best recovery plan. I remain ready and ready to continue to work with the company and its consultants to achieve a successful reorganization. ”

Moreover, he had worked tirelessly to assist the company and its advisers, and had developed an operational plan for the company to return currencies to creditors in the most reasonable and efficient manner.

Finally, he said he was committed to helping the company continue to develop and promote this plan, in order to help account holders become full.

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