1 year ago
100 In this photograph illustration, the Celsius Network logo is displayed connected a smartphone surface beside Bitcoin cryptocurrencies.
Rafael Henrique | SOPA Images | Lightrocket | Getty Images
S. Daniel Leon, co-founder and main strategy serviceman of bankrupt crypto lending level Celsius, has stepped down, according to radical acquainted with the substance and an interior memo viewed by CNBC.
Leon's departure was announced connected Tuesday. His exit comes a week aft the company's CEO, Alex Mashinsky, submitted a missive of resignation.
Lior Koren, antecedently the company's planetary taxation director, is taking implicit and volition beryllium operating retired of Israel, the email said.
Celsius, which is based Hoboken, New Jersey, made headlines successful June aft it froze lawsuit accounts during the alleged crypto wintertime and an industrywide liquidity crunch.
Prior to the freeze, Celsius was 1 of the largest crypto lending platforms with much than $8 cardinal successful loans to clients and astir $12 cardinal successful assets nether management. The steadfast had attracted 1.7 cardinal customers by offering yields arsenic precocious arsenic 17% connected crypto deposits.
Behind the scenes, Celsius would lend lawsuit funds retired to hedge funds and others consenting to wage an adjacent higher yield. It besides invested successful different high-risk cryptocurrency projects, according to interior documents shared with CNBC.
Celsius filed for Chapter 11 bankruptcy successful July with a $1.2 cardinal spread successful its equilibrium sheet.
Celsius did not instantly respond to CNBC's petition for comment.
