Cryptocurrency
Crypto News: Celsius Refutes Claim On Its CEO Trying To Flee US
Celsius, a troubled crypto lending firm is putting their best foot forward to recover operations alongside CEO Alex Mashinsky. Who currently stays in the United States, the company has claimed.
iexclusivenews reports that a spokesperson for Celsius has refuted claims that the Celsius Network’s persistent liquidity crisis caused the company’s CEO to attempt to leave the country last week.
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This online news outlet understands on Monday that the representative informed Cointelegraph that the company is still attempting to restore liquidity, saying:
“All Celsius employees — including our CEO — are focused and hard at work in an effort to stabilize liquidity and operations. To that end, any reports that the Celsius CEO has attempted to leave the U.S. are false.”
After Mike Alfred, co-founder of the cryptocurrency analytics company Digital Assets Data.
Claimed on Twitter on June 26 that Mashinsky attempted to exit the country via Morristown Airport in New Jersey.
The United States, a short time later, Celsius made the aforementioned declaration.
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Citing an anonymous source, Alfred alleged that Celsius CEO was trying to go to Israel. “Unclear at this moment whether he was arrested or simply barred from leaving,” he added.
If @Mashinsky attempted to leave the country this week, why are you reporting it now exactly when the CEL price is going down? Seems very coincidental Mike Alfud. And why no mainstream media or crypto media is reporting this? #CelShortSqueeze https://t.co/ynJbzWib9o
— Otis — #CelShortSqueeze 🍋 🐈⬛💜 (@otisa502) June 27, 2022
Alfred’s assertions came after a significant “short squeeze” on Celsius, a la GameStop, which saw CEL, the native token of Celsius, increase by 300 percent by June 21.
On June 14, the price of CEL also rapidly rose by more than 600%, with observers attributing the occurrence to an exchange error or the liquidation of short speculators.
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What You Should Know
According to CoinGecko, CEL is currently trading at $0.741, down about 5% over the previous 24 hours.
Over the last 14 days, the native token of Celsius has increased by more than 160 percent.
The claims Alfred made in his tweets regarding Mashinsky have drawn criticism from several industry watchers in the crypto world, many of whom view them as FUD.
Celsius officially declared on June 13 that it would be “pausing all withdrawals, swaps, and transfers between accounts.”
The investigation against Celsius was subsequently launched by US officials as a result of the freezing of several accounts on the platform.
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According to some observers, given that other lenders in the market have lately had similar concerns, Celsius’ liquidity issues should be linked to flaws in the current crypto lending paradigm generally.
Celsius has apparently been working hard to address the platform’s liquidity crisis, hiring advisers and restructuring consultants to assist with any prospective bankruptcy proceedings.
Meanwhile, iexclusivenews Nigeria reports that BnkToTheFuture. The principal investor in Celsius, and co-founder Simon Dixon committed to help the network by implementing a recovery plan on June 18.
