Celsius Crypto company claims CEO didn’t attempt to flee country after huge crash

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The ongoing wave of cryptocurrency crashes has really rocked the boat of the virtual world. While NFT-themed restaurants block all digital currency, huge investment companies are creating wild stories. For example, crypto exchange Celsius and its potential runaway CEO.

Did Celsius CEO attempt to flee the country?

Amid the second crypto crash of 2022, rumours circulated that Alex Mashinsky, CEO of Crypto exchange Celsius, attempted to run out of the country. But how did this rumour start?

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On Twitter, Mike Alfred — a renowned crypto investor — reported that Mashinsky was attempting to leave the country. Alfred claimed that Mashinsky attempted to board an international flight in New Jersey but was stopped by authorities.

Alfred explained that the CEO was attempting to flee the United States and move to Israel. The crypto influencer claimed that the information came from an anonymous source.

After the alleged incident spread online, crypto exchange Celsius announced that it was categorically untrue. The company released the following statement:

"All Celsius employees — including our CEO — are focused and hard at work in an effort to stabilize liquidity and operations. To that end, any reports that the Celsius CEO has attempted to leave the US are false."

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Read More: Multiple crypto changes are blocking withdrawals amid crash

Why would Alex Mashinsky want to leave the country?

Of course, the rumours that the Celsius CEO attempting to flee the country were seen as realistic to a lot of followers. With the crypto exchange halting withdrawals during the crash, many began criticising the platform.

Due to the company halting restrictions, not allowing people to get their assets out when it matters, the entire crypto exchange is now under investigation. According to Coinbase, multiple states are looking into the company at the federal level.

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“What you're going to see is what I like to consider a return to normalcy,” Former Securities and Exchange senior counsel Howard Fischer told the outlet. “Institutions that deal in crypto are going to be regulated as if they were more standard financial institutions.”

Celsius is far from the only company that will be heavily investigated following the crash. With so many exchanges shutting down withdrawals, more investigations will be taking place.