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Crypto Leadership Upheaval Gives Fresh Jolt to Industry (1)

Sept. 28, 2022, 6:18 AM

Another round of executive departures hit the crypto industry Tuesday, the latest sign that the fallout from this year’s steep drop in prices -- also marked by a pullback in venture capital, widespread layoffs and growing regulatory scrutiny -- has yet to run its course.

First came word that Celsius Network Ltd.’s Chief Executive Officer Alex Mashinsky -- who helped found the crypto lender and was a cheerleader for its sky-high yield offerings until the company ran into trouble -- resigned, calling his leadership an “increasing distraction” as the company struggles to survive its bankruptcy proceedings. Then FTX ...