Controversial investment: Celsius Network CEO steps down

The big boss of the « cryptobank » Celsius Network, in which the Caisse de depot et placement du Québec (CDPQ) has bet $ 200 million, resigned Tuesday morning.

• Read also: Celsius Network still makes the Caisse de dépôt look very bad

• Read also: Blocked accounts: Celsius Network customers could get their marbles back

“I have chosen to step down as CEO of Celsius Network today. Nonetheless, I will continue to focus on my work to help the community unite behind a plan that will deliver the best outcome for all creditors – something I have done since the company filed for bankruptcy,” the official said. Celsius Network CEO Alex Mashinsky, by statement.

The Caisse is studying its options

On his Twitter account, Alex Mashinsky simply shared this statement where he said he wanted his customers to “stay united”.

“I regret that my continued role as CEO has become an increasing distraction, and I am truly sorry for the financial hardship our community members are facing,” he continued.

Questioned by The newspaperthe Caisse, which has invested more than $200 million in the controversial platform, said it had nothing new to add, saying it was continuing to work on “its legal options”.

Fraud allegations

Accusation of Ponzi fraud, data leaks, blocked accounts… the Celsius platform, under the protection of American bankruptcy law, has caused a lot of ink to flow in recent months.

Last July, The newspaper reported that a Caisse vice-president, Thomas Birch, once ran a company in which Celsius CEO Alex Mashinsky had invested, but the woolen sock assured that everything was done in a compliant manner.

« There was no real or apparent conflict of interest, and the process of analyzing the case followed its normal course, » we were assured.

The Caisse had specified that Thomas Birch and Alex Mashinsky have “never worked directly together and do not maintain a personal relationship. In this specific case, there is no ambiguity.

Celsius did not respond to our interview requests on Tuesday.

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