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Celsius CEO Resigns as Bankrupt Crypto Firm Works to Survive (2)

Sept. 27, 2022, 8:54 PM

Celsius Network Ltd. Chief Executive Officer Alex Mashinsky, who founded the embattled crypto startup and served as pitchman for the sky-high yields it promised to its thousands of investors, is stepping down as the company works its way through bankruptcy.

The Hoboken, NJ-based company said it appointed Chief Financial Officer Chris Ferraro, a JPMorgan Chase & Co. veteran, to the role of chief restructuring officer and interim CEO.

The leadership change represents a major shift for the company, which filed for bankruptcy protection in July. Celsius was one of the most notable casualties in this year’s crypto market ...