Ex-CEO of Algorand will lead the company to manage the bankrupt Celsius
Date: 2023-09-12 Author: Karina Ziganova Categories: BLOCKCHAIN
Steve Kokinos was appointed CEO of the new company, which will manage the assets of the crypto lender Celsius Network. Previously, he headed the company Algorand.
In addition to him, the board of directors will include representatives from WeWork, Lehman Brothers and US Bitcoin, as well as two members of the Unsecured Creditors Committee.
Kokinos left Algorand in July 2022. It is noteworthy that a year later the company’s protocol suspended its work.
He is a co-owner of the Fahrenheit Holdings organization. The consortium of the same name won the bidding for Celsius Network assets in May 2023.
Clients of the crypto lender can file an objection to the deal with Fahrenheit Holdings until September 22. If the agreement is approved, the company will be restarted according to the proposed plan.
Former CEO of Celsius Network Alex Mashinsky was arrested. The court set bail in his case in the amount of $40 million. At the same time, Mashinsky’s assets were frozen.
