Celsius Appoints Directors Amid Persistent Liquidity Crisis

According to recent U.K. business papers, the board of the struggling crypto loan firm Celsius has been reformed.

Celsius is reorganising its board of directors as its cash issues persist. According to today’s papers, Celsius has named David Barse and Alan Jeffrey Carr as directors.

Despite the fact that these documents were dated July 6, the two directors were appointed to the board on June 28 and 29. The new directors will join Celsius CEO Alex Mashinsky, CTO Shlomi Daniel Leon, and others on the board.

Celsius also dismissed John Stephen Dubel, Laurence Anthony Tosi, and Gilbert Nathan as directors. These persons were affiliated with Dubel & Associates, WestCap, and Jackson Square Advisors, respectively.

Celsius is investigating strategic acquisitions

On June 13, Celsius stopped withdrawals, swaps, and transfers. Since that day, the firm has not reopened its services.

A Thursday update indicated that the corporation is considering both strategic transactions (transactions in the same category as mergers and acquisitions) and liabilities restructuring.

It seems that Carr’s appointment is connected to these ambitions. Carr is the chief executive officer of Drivetrain, a company that oversees restructurings, litigation, and troubled investment portfolios.

It is unclear if Barse’s hiring is connected to the present issue at the corporation. Barse is followed by the index business XOUT Capital and the private family office DMB Holdings, neither of which seem relevant to the current discussion.

Nevertheless, the fact that the company is hiring executives shows that it intends to implement substantial changes in the near future.

Also Read: US Commerce Analyses Bitcoin Policy Institute’s Crypto Report