Celsius creditor committee called for CEO’s removal PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Celsius creditor committee called for CEO’s removal

The committee representing customers and creditors in the Celsius bankruptcy process says it called for the removal of CEO Alex Mashinsky, according to a new court filing.

The Committee of Unsecured Creditors was conducting its own investigation into the firm and its leadership. Those findings led it to demand that Mashinsky be removed as CEO and Celsius leadership begin an orderly transition.

After receiving information from Celsius’ leadership as part of its investigation, the committee concluded that allowing Mashinsky to stay as CEO was “unacceptable and not in the best interests of the estates,” and added that, “new executive leadership was required,” the group’s lawyers wrote in a court filing today. 

Mashinsky announced his resignation this morning, a move that the committee characterized as “a positive step” to allow the bankruptcy process to move forward. 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Aislinn Keely joined The Block in the summer of 2019. She is a member of the outlet’s policy team, holding down the legal beat. Before The Block, she lent her voice to the NPR affiliate WFUV, where she reported and anchored newscasts in addition to some podcast work. Aislinn is a proud Fordham Ram and editor-in-chief emerita of its newspaper. When she isn’t writing or reporting, Aislinn is running and rock climbing.

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