Celsius Grënner Alex Mashisnky huet Suen virum Faillite gezunn

In July 2022, crypto lender Celsius Network plunged into bankruptcy amid massive withdrawals taking on the platform. As the company was spiraling towards bankruptcy, it froze customer accounts as well.

However, the latest report from the Financial Times shows that Celsius founder Alex Mashinsky withdrew $10 million from the crypto lender just weeks before customer accounts. Mashinsky withdrew the crypto in May 2022 when customers were pulling their assets in large numbers on concerns about Celsius’ financial health.

The withdrawal revelations could intensify scrutiny on Mashinsky who zréckgetrueden last week on September 27. It also raises questions that whether Mashinsky knew that Celsius won’t be able to return their customers their assets.

Details of these transactions by Mashinksy will be submitted to the court in the coming days. This could be a broader disclosure by Celsius of its financial affairs. But a spokesperson said that Mashinksy and his family still have $ 44 Milliounen wäert of crypto frozen in the company. He further added:

“In mid to late May 2022, Mr Mashinsky withdrew a percentage of cryptocurrency in his account, much of which was used to pay state and federal taxes. In the nine months leading up to that withdrawal, he consistently deposited cryptocurrency in amounts that totalled what he withdrew in May. He continues to be committed to working with and uniting the community around a recovery plan that will maximise coin and liquidity for all”.

What’s Next for Mashinsky?

As per the FT report, Mashinsky faces the prospect of being forced to return the $10 million he withdrew from Celsius Networks. As per U.S. law, payments by a company within 90 days of filing bankruptcy can be clawed back.

Another person familiar with the matter said that $8 million of the withdrawn sum went to paying taxes on income the assets had generated on Celsius. The rest of $2 million came in the form of $CEL, the native tokens of Celsius Networks. The person also added that the withdrawal was pre-planned and linked to Mashinsky’s estate planning.

Back in August, there were also Affirmatiounen on the Celsius founder for using customers’ funds to take wild bets.

De Bhushan ass e FinTech Enthusiast an hält e gudde Flair am Sënn vun de Finanzmäert ze verstoen. Säin Interessi fir Wirtschaft a Finanzen zéien seng Opmierksamkeet op déi nei entstanen Blockchain Technologie an Cryptocurrency Mäert. Hien ass kontinuéierlech an engem Léierprozess an hält sech motivéiert andeems hien säi gewinnt Wëssen deelt. A senger Fräizäit liest hien Thriller Fiction Romaner an entdeckt heiansdo seng kulinaresch Fäegkeeten.

Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.