Business In News
- Celsius Network’s co-founder Daniel Leon has resigned from the firm, Bloomberg reports
- Leon’s resignation comes days after the firm’s CEO, Alex Mahinsky, resigned from the company.
- Celsius is all set to hold an auction event to sell its assets as part of its bankruptcy procedures.
Embattled crypto lender platform Celsius Network’s co-founder and chief strategy officer Daniel Leon has called it quits amid bankruptcy proceedings.
Celsius’s Co-Founder Daniel Leon Is No Longer A Part Of The Crypto Lender Platform.
Per Bloomberg, Celsius Network, which has recently filed for chapter 11 bankruptcy, confirmed that its chief strategy officer and co-founder, Daniel Leon, has resigned from the organization.
“We confirm that Daniel Leon resigned from his position at Celsius and is no longer part of the organization,” the company told Bloomberg News.
Founded in 2017, Celsius Network is a leading crypto lender platform that abruptly halted its withdrawals and deposits, citing extreme market conditions. The decision of the firm to halt withdrawals on its platform left thousands of its investors in a frenzy. The firm later filed for a chapter 11 bankruptcy with plans to restructure its finances to compensate its creditors.
Celsius offered a wide range of services to its customers, with an emphasis on letting investors earn attractive interest on the crypto deposited with the firm. Celsius’ decision to halt its services in July was followed by an array of lawsuits and accusations, alleging that the firm is actively defrauding investors in general.
Leon’s resignation came days after the firm’s CEO, Alex Mahinsky, submitted his resignation to the firm.
The crypto lender platform is currently undergoing intense bankruptcy proceedings and has recently announced an auction timeline to sell its assets to worthy bidders. The firm will be holding its final auction event on October 17 and another auction if necessary on October 20.
According to Bloomberg, Leon owns 32,600 shares of Celsius’s common stock. Per his LinkedIn profile, Leon has been serving in the roles of the firm’s CSO and co-founder since 2017.