Celsius CEO resigns as company struggles to pay back creditors

Quick Take

  • Celsius’s founder and CEO, Alex Mashinsky, has resigned. 
  • The move comes as the firm is facing a flurry of legal action from creditors following its bankruptcy. 

Alex Mashinsky, the founder and CEO of failed crypto lender Celsius, has resigned. 

"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 is what I have been doing since the Company filed for bankruptcy,”  Mashinsky said in a press release announcing the move. “I believe we all will get more if Celsians stay united and help the UCC with the best recovery plan. 

CFO Chris Ferraro is stepping in as "Chief Restructuring Officer" and interim CEO, the company announced

Mashinsky himself has long been a controversial and often combative figure within the crypto industry. The collapse of his firm earlier this year brought about heightened scrutiny of its business operations as well as Mashinsky's leadership. 

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