Celsius CEO Alex Mashinsky Finally Speaks Out

The CEO of the embattled crypto lender, Celsius, has broken his three-day silence after his company
abruptly announced that it was pausing all customer withdrawals, swaps, and transfers.

Alex Mashinsky took to Twitter to assure the Celsius community that the company’s team is working “non stop” on the issue, and to request customers’ continued patience.

But Mashinsky offered little comfort to those hoping for answers as to when users will again be able to withdraw funds.

Notably, Mashinsky gave no answer as to when he aims or expects to have Celsius operating again.

Celsisus paused withdrawals on Sunday to “stabilize liquidity” and “preserve and protect assets” after a particular cryptocurrency offered on the platform, Lido’s Staked Ether (stETH), began experiencing irregularities.

Celesius has, reportedly, hired attorneys to look into restructuring the company if other financing sources cannot be found.

On Sunday, news of the withdrawal freeze sent Celsius’ native token plummeting 70% in a single hour.

Just a day before, Mashinsky was tweeting much more liberally, lambasting a Twitter user for spreading ‘fear, uncertainty, and doubt’ when they cited rumors that retail investors were getting locked out of Celsius accounts.