What happened to Alex Mashinsky of Celsius Network?

Celsius Network CEO Alex Mashinsky stepped down Tuesday, closing a chapter for the bankrupt crypto lender which has become the poster child for the harms brought down on retail investors during the crash of the digital-assets market. “I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the diffi...

Did Mashinsky cause a crash in 2022?

Mashinsky was allegedly responsible for a series of poor trades in early 2022 that precipitated the crypto lender’s downfall. Celsius was one of the first major crypto lenders to freeze user withdrawals as crypto markets crashed in mid-June this year.

Why did Mashinsky say he regretted being a 'distraction'?

In his official letter, Mashinsky said that he regretted how much of a “distraction” his presence had become as the company’s CEO. “I am very sorry about thedifficult financial circumstances members of our community are facing,” he added.