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CEO of Celsius Tenders Resignation Letter:

Alex Mashinsky, CEO of troubled cryptocurrency lending platform, Celsius, is resigning from his executive position.

Although, he noted that he is willing to aid the company during its restructuring process.

According to the Tuesday’s announcement (September 27, 2022), Mashinsky tendered his resignation letter to the Special Committee of the Board of Directors of Celsius Network Limited.

As revealed in the letter, Mashinsky is not only resigning from his CEO role but also from other positions and directorships at different sub-levels.

However, the Celsius boss is maintaining his director position at the company.

An excerpt from the Mashinsky’s resignation letter stated:

“I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing…I am committed to helping the Company continue to flesh out and promote that plan, in order to help account holders become whole.”

Meanwhile, the resignation is expected to take effect immediately.

Mashinsky, in a statement, said:

“I believe we all will get more if Celsians stay united and help the UCC with the best recovery plan. I remain willing and available to continue to work with the Company and their advisors to achieve a successful reorganization.”

By Meekness Nnoka

Blockchain Analyst & Writer with top-notch Technological background. Enjoys reading and writing fascinating crypto contents. 4 years content creating experience.

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