Bloomberg Tax
Sept. 27, 2022, 8:54 PM

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

Hannah Miller
Hannah Miller
Bloomberg News

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 ...