Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Celsius Execs Withdrew $42 Million in Crypto: CoinDesk (Correct)

Oct. 6, 2022, 3:07 PM

Executives at bankrupt crypto lender Celsius withdrew $42.1 million of cryptocurrencies before suspending customer withdrawals from the platform, CoinDesk reported, citing court documents.

  • Celsius’s then-CEO Alex Mashinsky, co-founder Daniel Leon and Chief Technology Officer Nuke Goldstein withdrew the money largely from custody accounts, denominated in Bitcoin, Ether, stablecoin USDC and Celsius’s own CEL token
  • The transactions occurred between May and June, according to documents filed in the Bankruptcy Court for the Southern District of New York, report says
  • NOTE: Celsius halted customer withdrawals citing “extreme market conditions” in June, and filed for bankruptcy in July
  • Mashinsky withdrew about ...