Skip to content
irukado

irukado

irukado

Menu
  • даркнет
  • Bitcoin news
  • Cryptocurrency news
  • Blockchain
  • Mining
  • NFT
  • Finance
Menu

Top management of Celsius Network withdrew tens of millions of dollars before bankruptcy

Posted on September 28, 2022October 7, 2022 by irukado

The heads of the crypto-credit company Celsius Network withdrew tens of millions of dollars before bankruptcy

Former CEO of Celsius Network Alex Mashinsky, as well as top management withdrew tens of millions of dollars from the firm before its bankruptcy. This is stated in the financial report, which was prepared as part of the proceedings.

The published documents indicate that at least in May 2022 alone, Mashinsky withdrew several million dollars from a depository account to Celsius. In addition to altcoins, the ex-head of Celsius withdrew ether (ETH), USD coin (USDC), celsius (CEL) and bitcoin (BTC) in large volumes.

Mashinsky also withdrew cryptocurrency through firms affiliated with him, it follows from the report. In addition, in addition to the ex-head of Celsius, the rest of the company’s top management also withdrew cryptocurrency over the same time period. For example, in May, the head of strategic development of Celsius, Daniel Leon, took millions of dollars in CEL, USDC and BTC tokens from his accounts.

In total, according to media estimates, the top management of Celsius Network withdrew over $55 million before bankruptcy.

In addition to transactions, the document also highlights Mashinsky’s salary. Starting from July 2021, it amounted to $38,460 (~2.3 million) before taxes, excluding bonuses. Leon’s salary was changing. If in July he received a little more than $10,000, then in September the figure doubled, and in April Leon took out a loan from Celsius in the amount of $4 million.

Earlier, the editorial board wrote that the media caught Mashinsky in a rapid withdrawal of capital just before bankruptcy. Then his representative said that the ex-head of Celsius withdrew money to pay state and federal taxes.

Recent Posts

  • An expert on digital assets assessed the ban on servicing crypto wallets of Russians
  • The expert called the circumstances affecting the changes in the cryptocurrency market
  • Switched to crypts: business started conducting cross-border transactions with digital currency
  • In Lugano, Switzerland, McDonald’s began accepting bitcoins
  • The economist explained the importance of using cryptocurrencies in international settlements

Categories

  • Bitcoin news
  • Blockchain
  • Cryptocurrency news
  • Finance
  • Mining
  • NFT

Archives

  • October 2022
  • September 2022
©2023 irukado