Celsius Creditors Approved to Sue Crypto Firm Founder Mashinsky

Creditors of Celsius Network LLC won court permission to sue company co-founder Alex Mashinsky and other former top executives, whom customers blame for costing the bankrupt crypto lender billions of dollars.

US Bankruptcy Judge Martin Glenn approved an agreement between the new management team of Celsius and an official committee of company creditors to allow them to pursue Mashinsky and the rest of his former management team. Attorneys for Celsius and the committee told Glenn the actions of the former executives were “reprehensible.”

The approval means creditors will take the lead in trying to collect money from Mashinsky and the ...