Register to chat with like-minded investors on our interactive forums.
The CEO of Celsius Alex Mashinky resigned from his post. However he is still the director of the company, the reason he gave was that the resignation was needed to help him commit more effort towards providing a way to rescue the company from its present financial state.
Also, another Celsius executive Daniel Leon (joint -Founder) and now Chief Strategy Officer has submited his resignation letter. His decision was made public through a memorandum that circulated internally. Additionally, his resignation was affirmed by an unnamed Celsius spokesman to Bloomberg.
In September, Daniel Leon had already filed a statement that announced his share of the company’s stocks as of no value, as part of his case in the United States Bankruptcy Court. Going by the information on paper he owns 32,600 common shares at the time when the statement was filed. Currently, no one knows the direction that this document will give to the coming auction of Celsius properties which will commence by the 17th of this month.
The Past Global Tax Director Steps In
After the resignation of Celcius’ top executives, the company affirmed that the vacant posts will be occupied by Lior Korean – the past Global Tax Director. And he will be working outside of Israel – his home country, in collaboration with Mashinsky, who has stayed in the leadership of the organization (Celsius). And, in the meantime, the two executives will have to deal with the fallout of having to apply the bankruptcy proceedings directed at filling the 1.2 billion gap in the company’s pocketbook.
Hopefully, the Celsius auction which is to happen this month will assist customers to recover their lost money. This Celsius episode may provide a precedent for other failed cryptocurrency properties management platforms.
Learn from market wizards: Books to take your trading to the next level
