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“Any Rumors That the Firm CEO Tried To Leave America Are False,” Says a Celsius Representative

Celsius – a crypto lending platform – is doing a lot of efforts to calm down the activities of the company’s system simultaneous to denying the reports about the exit of Alex Mashinsky (the CEO of the venue who is residing in the United States as asserted by the firm).

A Celsius spokesperson has refuted the reports saying that the platform’s CEO attempted to leave the United States in the previous week during the continuous liquidity disaster that befell Celsius Network. On Monday, the representative stated that the venue is focused on operating to restore the liquidity level thereof. He mentioned that, along with their CEO, the whole Celsius Network is endeavoring to a great extent to incorporate stability to the operations as well as the liquidity thereof.

The official statement was made by Celsius just following the claims noted on the behalf of Mike Alfred (the crypto analytics company Digital Assets Data’s co-founder) on Sunday that Celsius’s CEO endeavored to leave the U.S.  in the previous week through the New Jersey-based Morristown Airport. While referring to an anonymous source, an accusation was put forward by Alfred that the CEO of Celsius was attempting to move to Israel. He added that it is ambiguous at the moment if he was detained or just restricted from quitting.

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The assertions indicated a huge squeeze in CEL (the local token of Celsius) such as that of GameStop, as it jumped by 300% in 1 week on 21st June. In addition to this, the CEL price shortly elevated by 600% on 14th June, and this moment was labeled by the analysts as a point of short traders’ liquidation or an exchange glitch. At present, $0.741 is the point on which the CEL token has been trading (5% lower) during the recent 24 hours, as reported by CoinGecko.

A few industry onlookers have shown skepticism regarding the Twitter posts of Alfred dealing with Mashinsky, and many consider the allegations thereof as FUD. It was recently reported that Celsius formally declared to put a halt on the entirety of the transfers, swaps, and withdrawals between accounts on 13th June.

The regulators operating within the United State began an investigation focused on Celsius after the reports that many accounts were frozen on the network. In the words of analysts, the liquidity problems of Celsius should be associated with the vulnerabilities of the present model for crypto lending generally, as the rest of the lenders have undergone similar issues recently.

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Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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