Thursday, December 8, 2022

Celsius Network Co-Founder And CSO S. Daniel Leon Calls it Quit

The atmosphere is getting heated for bankrupt Celsius Network as two of its top executives take their leave within one week. Celsius Network co-founder and Chief Strategy Officer S. Daniel Leon has resigned from the crypto lending company. Important to realize is that co-founder and now-former CEO of the firm Alex Mashinsky stepped down a few days ago.

These resignations are coming in the midst of the crypto lender’s restructuring process. Accordingly, the global tax director for Celsius Network Lior Koren who is based in Israel will take over from Leon. He will carry out his operations from Israel.

Daniel Leon together with Alex Mashinsky, and Nuke Goldstein founded the crypto lending firm in 2017. Notably, Leon is based in Israel and started his work at Celsius Network as the Chief Operating Officer (COO). Since that time, he has contributed immensely to the growth of Celsius even after transitioning to the position of CSO.

While at Celsius Network, Leon served as the Executive Chairman of GK8, an Israel-based cyber security fintech company. To date, he still holds the position of GK8 Executive Chairman. According to his LinkedIn profile, Leon was once the CEO of a multi-disciplinary building technology company Beyond3D, and Atlis Labs. 

Moreso, he held the position of Celsius Network CSO for almost 10 months before his resignation.

Top Industry Executives Consistently Resigns

Leon’s departure from Celsius Network is one of the few which has happened since the market took a bearish turn. The consistent fluctuation of the market coupled with the Terra crash has cleared off more than $2 trillion from the crypto industry.

Consequently, several firms are seeking means to cushion the effect of extreme market conditions. While firms like OpenSea, 2TM, and TrueLayer are laying off some staff, top executives are voluntarily relinquishing their positions. Recently, the now-ex president of FTX United States Brett Harrison resigned from his position in the crypto exchange.

Similarly, Jesse Powell, CEO of crypto exchange Kraken announced that he is stepping down as CEO of the firm. The company’s COO Dave Ripley is meant to take over after another person has been recruited to occupy his position. The crypto industry has seen many more top executives like Michael Saylor, and Sam Trabucco make an exit from their firms.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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