Celsius Network Ltd. CEO Alex Mashinsky, who launched the troubled crypto business, is stepping down as the company navigates bankruptcy. The business announced the appointment of Chief Financial Officer Chris Ferraro, a former JPMorgan Chase & Co. executive, as chief restructuring officer and interim CEO. Celsius was one of the most visible victims of this year’s crypto market catastrophe, which began with the implosion of the TerraUSD algorithmic stablecoin in May and ended with the firm declaring bankruptcy in July.
