Algorand Ex-CEO to Lead the Acquisition of Celsius
The new company’s board of directors is set to feature executives with diverse backgrounds, including individuals from WeWork, Lehman Brothers, and notable figures from the Bitcoin mining sector.
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Out of the nine board members, six were appointed by Celsius’ creditors committee, while two were appointed by Fahrenheit Holdings, where Steve Kokinos is a co-founder. Fahrenheit Holdings was the consortium that successfully bid to acquire Celsius’ assets in May.
Their plan involves taking over Celsius’ institutional loan portfolio, staked crypto holdings, and bitcoin mining unit.
The decision regarding the sale plan must be made by creditors before September 22.
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