Celsius Founder Attempts to Escape the Country

• Mashinsky’s promises that the money was secure.
• The Network had recruited experts from Alvarez & Marsal to get guidance on bankruptcy.

Founder and CEO of Celsius Network, Alex Mashinsky, attempted to leave the country this week, according to the most recent tweet from Mike Alfred a well-known crypto investor and analyst.

Alex Mashinsky Plans

Celsius, which had more than $8 billion in client debts and $12 billion in assets under management as of May this year, announced on June 12 that it would no longer allow withdrawals from its platform due to “extreme market conditions.”

Celsius Network has frozen customer withdrawals days later, Mashinsky’s promises that the money was secure. The analyst also brought out the fact that Mashinsky hasn’t spoken since and the customer funds are still a secret. 

According to the expert, Mashinsky was prepared to go to Israel and he said, For better or worse, it’s in the hands of the lawyers now and there was no hint that the platform would soon return users’ funds.

Also, the analyst thinks that Mashinsky has already been contacted by the FBI and he could have been arrested, questioned, and then released. 

Goldman Sachs is looking for $2 billion in investor funding to buy digital assets from the crypto lender Celsius. The Network LLC had recruited restructuring experts from the consulting company Alvarez & Marsal. Getting guidance on a probable bankruptcy filing is the major goal of engaging restructuring professionals.

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