Crypto Consortium Fahrenheit Proposes Steve Kokinos as CEO of Celsius 2.0
Celsius customers have eagerly awaited the conclusion of the bankruptcy proceedings, and now crypto consortium Fahrenheit, which won the bid to acquire Celsius, has proposed a new board of directors for Celsius 2.0, referred to as “NewCo.” One of the proposed directors is Steve Kokinos, the former CEO of Algorand.
New Directors for Celsius 2.0 (NewCo)
Fahrenheit and the Official Committee of Unsecured Creditors of Celsius have jointly proposed seven new directors for NewCo. The crypto consortium selected two members, the creditors chose three members, and the remaining two members were chosen through mutual agreement.
Steve Kokinos is widely recognized in the crypto community for his previous role as the CEO of the Algorand blockchain.
Hot Take: Former Celsius CEO’s Assets Seized
Last week, a US judge seized the assets of former Celsius CEO Alex Mashinsky, including bank accounts and residential property. Mashinsky was arrested in July 2023 on charges of fraud.
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