CEO-ul Celsius, Alex Mashinsky, ar fi „preluat controlul” asupra strategiei de tranzacționare la firma de creditare criptografică, pe fondul zvonurilor din ianuarie că Rezerva Federală a Statelor Unite plănuia să majoreze ratele dobânzilor.
According to a Tuesday report from the Financial Times, Mashinsky personally dirijat tranzacții individuale și experți financiari anulați într-un efort de a proteja Celsius de scăderile anticipate ale pieței cripto. CEO-ul Celsius ar fi comandat vânzarea de Bitcoin în valoare de „sute de milioane de dolari” (BTC) într-un caz, răscumpărarea monedelor cu mai puțin de 24 de ore mai târziu, cu pierdere.
Alex Mashinsky took control of Celsius trading strategy months before bankruptcy https://t.co/AnydQiZLCC
- Financial Times (@FT) August 16, 2022
Mashinsky’s actions also reportedly affected his professional relationship with Frank van Etten, the then chief investment officer of Celsius, with whom he “clashed repeatedly” over trading strategy. The Financial Times reported a person familiar with the matter said the Celsius CEO “had a high conviction of how bad the market could move south” and wanted staff “to start cutting risk” in any way possible prior to the Fed meeting.
Reports at the time suggested the Federal Reserve could implement rate hikes in January, but the central bank did not confirm it would be doing so until March. While there was still some volatility in the crypto market following the announcement, the price of major tokens didn’t crash for two months, with BTC falling below $30,000 in May and later under $20,000 in June.
One of the Individuals reportedly familiar with the events at Celsius said Mashinsky was “not running the trading desk” — seemingly not taking a heavy hand on trades — but rather expressing his opinions on the crypto market to influence strategy. Another person reportedly said the Celsius CEO was “slugging around huge chunks of Bitcoin” and ordering trades based on bad information.
The Celsius CEO reportedly used his authority to block sales of investment vehicles linked to cryptocurrencies, including shares of Grayscale’s Bitcoin Trust, or GBTC. The news outlet reported there was a deal available aimed at cutting Celsius’ losses on GBTC — the company held 11 million shares worth roughly $400 million in September 2021 — but Mashinsky refused it, eventually selling for a $100–$125 million loss in April 2022.
Related: Raportul de monede Celsius Network arată un decalaj de sold de 2.85 miliarde USD
Celsius a depus cererea de faliment în capitolul 11 in July after closing debts owed to Compound, Aave and Maker. Cointelegraph reported on Tuesday that the crypto lending platform was on track to rămas fără bani by October, with a report suggesting the company’s debt was closer to $2.8 billion against its bankruptcy filing claims of a $1.2 billion deficit.
Cointelegraph reached out to Celsius and Alex Mashinsky, but did not receive a response at the time of publication.
Source: https://cointelegraph.com/news/celsius-ceo-personally-directed-crypto-trades-months-before-bankruptcy-report