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Celsius CEO Resigns as Bankrupt Crypto Firm Works to Survive

  • Alex Mashinsky said his role became ‘increasing distraction’
  • CFO Chris Ferraro will take over as interim CEO, Celsius says
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Crypto Firms' Executives Quit; Bitcoin Breaks $19,000 Level
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Celsius Network Ltd. Chief Executive Officer Alex Mashinsky, who founded the embattled crypto startup and served as pitchman for the sky-high yields it promised to its thousands of investors, is stepping down as the company works its way through bankruptcy.

The Hoboken, NJ-based company said it appointed Chief Financial Officer Chris Ferraro, a JPMorgan Chase & Co. veteran, to the role of chief restructuring officer and interim CEO.