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Celsius suspends withdrawals for the fourth day, CEO speaks out for the first time: Thanks to the most powerful Celsius community

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Celsius suspends withdrawals for the fourth day, CEO speaks out for the first time: Thanks to the most powerful Celsius community

Three days after announcing the suspension of platform user withdrawals, deposits, and transfers, the CEO of the lending platform Celsius, Alex Mashinsky, finally broke his silence and posted on Twitter. However, his cryptic and evasive tweet only served to further anger the crypto community.

Celsius Statement

CEO Alex Mashinsky stated on Twitter here:

The Celsius Network team is working around the clock, we are very focused, and grateful for all the support. Seeing you all come together shows that the Celsius community is the strongest in the world. This is a difficult time, and your patience and support mean the world to us.

Fatman's Comments

Terra's top informant previously alleged the following about Celsius:

  • Celsius has not had internal employees for over a year
  • Development and management are all outsourced to the studio MVP Workshop
  • Former CFO Yaron Shalem was arrested in Israel for money laundering and fraud

He pointed out that Celsius still lacks permanent employees early on, but later hired inexperienced individuals to manage Celsius, carelessly outsourcing all work. He urged Mashinsky:

Good luck. I hope your positions can make a difference, these people shouldn't lose everything because of you. I hope you don't take their money to play around in DeFi, and if Celsius survives in the end, please don't outsource work randomly again.

The Block's Research VP Larry Cermak

Journalist Laura Shin, who previously exposed the true culprit of the 2016 Ethereum DAO hack in a new book, retweeted Mashinsky's statement and commented:

Working non-stop... what does that even mean?

Larry Cermak responded:

Given their lack of funds, working non-stop might mean emptying all 100+ wallets and exchange accounts they have, then dumping everything they can, and trying to sell what they can't through OTC markets. Since trust is shattered and business is done.

Crypto KOL Ben Armstrong, known for being mocked by the community, accused Celsius of requesting users to deposit funds again to repay previous loans on the platform, citing temporary inability to access funds, but he did not provide any evidence.