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Celsius Says Execs Withdrew Millions Before Bankruptcy (Update2)

Oct. 7, 2022, 8:56 PM

Top executives at Celsius Network LLC withdrew millions of dollars worth of cryptocurrencies in the month before suspending customer withdrawals from the platform, according to bankruptcy court documents filed by lawyers for the crypto lender in New York late Wednesday.

Now-former Chief Executive Officer Alex Mashinsky, co-founder Daniel Leon and Chief Technology Officer Nuke Goldstein and entities identified in the documents as their related parties made a series of withdrawals in May totaling in the tens of millions, these filings allege. Transactions were denominated in Bitcoin, Ether, USDC, Celsius’s own CEL token and “wrapped” Bitcoin.

Alex Mashinsky
Photographer: Dania Maxwell/Bloomberg

Mashinsky withdrew about $10 ...