Paige Tortorelli / CNBC:
S. Daniel Leon, Celsius co-founder and chief strategy officer, has resigned; Lior Koren, the company’s global tax director, will assume the role — – S. Daniel Leon, co-founder and strategy chief of bankrupt crypto lending platform Celsius, has stepped down, according to an internal email.
Adam Morgan McCarthy / The Block:
Mike Novogratz’s Galaxy Digital agrees to buy high-security custodian GK8 from bankrupt crypto lender Celsius; Celsius acquired GK8 for $115M in late 2021 — – Mike Novogratz’s Galaxy Digital agreed to buy GK8 from Celsius. — GK8 was originally acquired by Celsius for $115 million in late 2021.
Krisztian Sandor / CoinDesk:
A look at what went wrong at decentralized lending protocol Maple Finance, as $54M in loans, or 66% of its lending pools, turn bad and what could happen next — Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade.
Vicky Ge Huang / Wall Street Journal:
Celsius co-founder and CEO Alex Mashinsky resigns from the bankrupt cryptocurrency lender, writing his “role as CEO has become an increasing distraction” — The crypto lender filed for bankruptcy in July — Alex Mashinsky—chief executive and cofounder of bankrupt cryptocurrency …
CoinDesk:
Court filing: Celsius ex-CEO Alex Mashinsky, ex-CSO Daniel Leon, and CTO Nuke Goldstein withdrew ~$56M between May and June 2022 before the lender’s bankruptcy — Ex-CEO Alex Mashinsky, ex-CSO Daniel Leon and CTO Nuke Goldstein pulled bitcoin, ether, USDC and CEL holdings from their custody accounts in May …
Nelson Wang / CoinDesk:
Genesis’ crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected — The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.
Ryan Weeks / The Block:
Court filing: Alameda Research plans to repay ~$128M in bitcoin and ~$70M in ether to bankrupt crypto lender Voyager and will reclaim ~$160M in collateral — – Crypto trading firm Alameda Research will repay two large loans demoninated in bitcoin and ether. — Once repaid, Alameda will reclaim some $160 million in collateral.
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