The distressed crypto lending company has recruited two new directors and sacked three others.
Key Takeaways
Celsius, still facing its ongoing liquidity crisis, has recruited two new directors and dismissed three others.
Alan Jeffrey Carr and David Barse will join the board alongside Celsius CEO Alex Mashinsky and other executives.
Carr is especially relevant to Celsius, as he is the CEO of Drivetrain, a firm that manages distressed investments.
Share this article
Struggling crypto lending company Celsius has restructured its board of directors, according to recent U.K. business filings.
Shakeup at Celsius
Celsius is shaking up its board leadership as its liquidity woes press on.
Based on a series of filings published today, Celsius has appointed David Barse and Alan Jeffrey Carr as directors.
Though those filings were dated Jul. 6, the two directors were appointed to the board last month on Jun. 28 and 29.
The new directors will serve on the board alongside Celsius CEO Alex Mashinsky, CTO Shlomi Daniel Leon, and others.
Celsius also terminated three directors: John Stephen Dubel, Laurence Anthony Tosi, and Gilbert Nathan. Those individuals had connections to other firms including Dubel & Associates, WestCap, and Jackson Square Advisors, respectively.
Celsius Is Exploring Strategic Transactions
Celsius suspended withdrawals, swaps, and transfers on June 13. The company has not re-opened its services since that date.
An update on Thursday suggested that the company is exploring strategic transactions (transactions in the same category as mergers and acquisitions) as well as liability restructuring.
It appears that Carr’s appointment is related to those plans. Carr is the CEO of Drivetrain, a firm that leads restructurings and litigations and manages distressed investment portfolios.
It is less clear whether Barse’s appointment is related to the company’s ongoing crisis. Barse leads index company XOUT Capital and the private family office DMB Holdings, neither of which appear to be relevant to the matters at hand.
Still, the fact that the firm is recruiting leaders suggests it has plans to make significant changes in the near future.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
