Last Updated on October 5, 2022 by Bitfinsider

Daniel Leon, a co-founder of Celsius Network Ltd., the cryptocurrency lender that filed for bankruptcy, announced his resignation this week.

The business said in a statement: “We confirm that Daniel Leon resigned from his position at Celsius and is no longer part of the organization.”

Alex Mashinsky, a fellow co-founder and Celsius’s chief executive officer, resigned last week. The once-prominent cryptocurrency lender is filing for bankruptcy after abandoning thousands of investors after placing hazardous bets prior to the collapse of bitcoin values and leaving them in the dark. The business revealed a $1.19 billion deficit in July. An examiner has just been appointed by the bankruptcy judge in the case to investigate into allegations of wrongdoing against the business and its management.

By allowing consumers to invest their coins and earn interest on them, Celsius hoped to compete with established banks. The corporation minimized the hazards of this type of investing in several of its YouTube broadcasts.

According to a filing made on Monday, Celsius is presently taking bids for its assets and may decide to hold an auction on October 20. The date of the sale hearing is 1st November. According to a source, cryptocurrency entrepreneur Sam Bankman-Fried is considering on acquiring the assets.

Leon claimed to possess 32,600 shares of Celsius’s common stock in a court filing on 5th September. His LinkedIn profile indicates that he is situated in Israel.