Celsius Network (CEL) Founder Withdraws $10M Weeks Before Bankruptcy: Did He Know What Was Happening?

Alex Mashinsky, the founder and former CEO of the bankrupt crypto lending platform Celsius Network (CEL), withdrew $10 million from the company just weeks before the bankruptcy.

The founder and former CEO of Celsius Network, according to sources in the Financial Times (FT) report on the subject. Alex Mashinskyjust weeks before the company’s cash flow deteriorated and customers went bankrupt by freezing their assets. 10 million took dollars. This move of Mashinsky brought to mind that he may have deliberately protected himself from bankruptcy.

Alex Mashinsky’s spokesperson said that even after Manhisky’s voluntarily disclosed withdrawals to the unsecured creditors committee, Mashinsky and his family to 44 million He had stated that there was a near-frozen existence. Of the $10 million withdrawn, Alex Mashinsky generally state and federal taxes It was reported by the spokesperson that he only created a certain portion of the cryptocurrencies in an account he used to pay. In addition, the spokesperson claimed that money inflows were equal to the amount withdrawn in the 9 months before this withdrawal, which took place in May.

According to the statements of one of the sources close to the subject, the $10 million withdrawn 8 million The dollar was withdrawn to cover taxes. Remainder 2 million the dollar was linked to a preplanned real estate investment by Manhinsky.

The CEO of the company, which went into bankruptcy by stopping withdrawals in June Alex Manhisky September 27He announced that he would resign from his post. In addition, in the statements made, the position of the company until a new CEO is found. CFO‘this by Chris Ferraro was stated to undertake.

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