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Why did Alex Mashinsky withdraw $10m from Celsius Network?

Celsius Network founder Alex Mashinsky withdrew $10mn from the crypto lender just weeks before the company froze customer accounts as it spiralled towards bankruptcy, according to people familiar with the matter.

Why is Celsius moving money from AAVE to FTX?

Celsius has been moving more than a quarter of a billion dollars worth of funds from Aave into the FTX exchange for reasons not specified, in addition to suspending withdrawals for users.

Why did Celsius file for bankruptcy?

The company filed for bankruptcy in July with a $1.2bn hole in its balance sheet. The business reached a peak last year of $25bn-worth of crypto assets deposited by customers who were attracted by the outsized interest rates Celsius offered, some as high as 18 per cent, on certain cryptocurrencies.

What happened to Celsius?

Celsius froze withdrawals on June 12, leaving hundreds of thousands of retail investors unable to access their savings. The company filed for bankruptcy in July with a $1.2bn hole in its balance sheet.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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