A ‘Boring’ CEO Bucks Crypto’s Wild Playbook at Bankrupt Celsius
- Finance industry veteran guided Celsius through Chapter 11
- Celsius won key support for launch of new creditor-owned firm
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When Celsius Network co-founder Alex Mashinsky resigned, interim Chief Executive Officer Chris Ferraro implemented a strategy that ran counter to the very ethos of cryptocurrency: he made the bankrupt digital-asset lender as boring as possible.
With Ferraro at the helm, Celsius began hosting regular staff meetings, sending frequent memos to employees and — crucially — sticking to a budget. The point was to “make this place normal. Boring. Stable,” he said in an interview.