CEO’s Alleged Escape Is False News — Celcius Network

Officially, Celsius Network has refuted all claims that its CEO attempted to escape the United States. This statement follows reports that the company’s CEO, Alex Mashinsky, was purportedly halted by officials while trying to escape the country.

Mike Alfred, the former CEO of BrightScope and Digital Assets Data, was the first to disclose the attempted escape by Mashinsky.

Alfred stated that Mashinsky attempted to exit the country through Morristown Airport, but officials prevented him. Both the news and Alfred’s sources have been independently confirmed.

Celcius Team Backs CEO

The Celsius team, defending its CEO stated in tandem with their earlier statements that all Celsius workers, including the CEO, are diligently working to stabilize the company’s finances and operations.

Therefore, claims that the CEO of Celsius has attempted to run away from the country is absolute rubbish.

Celsius Network has been navigating turbulent waters over the past several weeks. Midway through this month, Celsius said it was suspending all withdrawals, swaps, and inter-account transfers owing to harsh market circumstances.

In response to reports of its collapse, the lending company asserts that it’s been addressing consumer concerns around the clock. Notably, The Wall Street Journal confirmed earlier last week that Celsius has retained restructuring attorneys to assist with its financial crisis management. There were also rumors that the Celsius board was considering dismissing Mashinsky as CEO.

On the other hand, the company has begun reimbursing clients to recoup liquidity and reopen withdrawals. Supposedly, Celsius compensated the DeFi provider Compound Finance with $10 million worth of DAI stablecoin.

Turbulent Times for Crypto Lending Companies

Nevertheless, Celsius wasn’t the only cryptocurrency company struggling to withstand market pressure as crypto hedge firm Three Arrows capital and Babel Finance are also in identical positions.

Even though the market has recovered up marginally after its terrible carnage this month, leading crypto businesses are still battling to deal with the repercussions of a bleeding market.

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