After the resignation of the CEO percentage gridAlex Mashinsky, the CEL token has fallen by more than 10%, and now it appears that a former manager withdrew $10 million from the company weeks before it declared bankruptcy and froze customer accounts.
Alex Mashinsky withdrew the funds in May of this year, before it became a known bad percentage case, which caused a large withdrawal of assets by clients, as a precaution against the financial condition of the lender; However, he ended up freezing his accounts as he neared bankruptcy.
a finals September, Alex Mashinsky announced his resignation as CEO of Celsius Network, just as the company faces Chapter 11 bankruptcy in New York. His departure was revealed in a letter to the Celsius Network’s Special Committee of the Board of Directors.
Effective immediately, please accept my resignation as CEO of Celsius Network Ltd, as well as my directors and other positions in both direct and indirect subsidiaries, with the exception of my managerial position at Celsius Network Ltd. As CEO I have become an increasing distraction, and I am deeply sorry for the financial circumstances difficult facing members of our community.”
Celsius must clear withdrawals to New York court
according to In the Financial Times, news about the withdrawal of funds by the former CEO of Celsius increases interest in him and raises more questions about when the lender discovered that it could not return all assets to its customers.
Also, Alex Mashinsky and his family still have $44 million. Cryptocurrency Frozen with degrees Celsius, except for the withdrawal of 10 million. Details about the assets and withdrawals are expected to be presented in New York court in the coming days, as rumors persist that he would not have voluntarily reported them to the Unsecured Creditors Committee (UCC).
The report issued by the specialized bulletin stated:
In mid to late May 2022, Mr. Mashinsky withdrew a percentage of the Cryptocurrency From your account, most of it was used to pay state and federal taxes. In the nine months preceding the withdrawal, he had consistently deposited cryptocurrencies equivalent to the amount he had withdrawn in May.”
weeks ago, a report It revealed that Celsius Network has more than $2 billion in commitments in various cryptocurrencies. Bitcoin (BTC) and raised (ETH) makes up the majority of liabilities.
Crypto liabilities are $6.1 billion, while assets under management are $3.6 billion. In addition, there have been no changes since the last report published last month.
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