Main Points
- Celsius has hired two new directors and fired three others as it continues to struggle with its ongoing liquidity crisis.
- Along with Celsius CEO Alex Mashinsky and other executives, Alan Jeffrey Carr and David Barse will join the board of directors.
- Since Carr is the CEO of Drivetrain, a company that manages distressed investments, he is especially pertinent to Celsius.
Recent U.K. business filings reveal that struggling cryptocurrency lending company Celsius has changed the composition of its board of directors.
Movement at Celsius
As its liquidity problems worsen, Celsius is changing the makeup of its board of directors.
David Barse and Alan Jeffrey Carr have been chosen by Celsius to serve as directors based on a number of filings made today.
The two directors were appointed to the board last month on June 28 and 29, even though those filings were dated July 6.
Along with Celsius CEO Alex Mashinsky, CTO Shlomi Daniel Leon, and others, the new directors will be board members.
Three directors were also fired by Celsius: Gilbert Nathan, Laurence Anthony Tosi, and John Stephen Dubel. These people each had connections to different businesses, including Jackson Square Advisors, WestCap, and Dubel & Associates.
Celsius Is Investigating Strategic Deals
On June 13, Celsius halted transfers, swaps, and withdrawals. Since that time, the company has not resumed offering its services.
According to a Thursday update, the company is considering liability restructuring in addition to strategic transactions, which are deals that fall under the same umbrella as mergers and acquisitions.
It seems that Carr’s appointment has something to do with those ideas. Carr is the CEO of Drivetrain, a company that manages portfolios of distressed investments and oversees restructurings and legal actions.
Whether Barse’s appointment is connected to the company’s ongoing crisis is less certain. Barse is the CEO of the private family office DMB Holdings and the index company XOUT Capital, neither of which appear to be pertinent to the current issues.
However, the hiring of leaders indicates that the company intends to make significant changes soon.
