A ‘Boring’ CEO Bucks Crypto’s Wild Playbook at Bankrupt Celsius

When Celsius Network co-founder Alex Mashinsky resigned, interim Chief Executive Officer Chris Ferraro implemented a strategy that ran counter to the very ethos of cryptocurrency: he made the bankrupt digital-asset lender as boring as possible.

With Ferraro at the helm, Celsius began hosting regular staff meetings, sending frequent memos to employees and — crucially — sticking to a budget. The point was to “make this place normal. Boring. Stable,” he said in an interview.

“It’s OK to be boring, we’re in bankruptcy,” Ferraro, 47, said. “We should tone it down.”

Ferraro, of course, does not view things like budgeting and ...