S. Daniel Leon, co-founder and chief strategy officer of Celsius, has left the firm just a week after chief executive Alex Mashinsky declared his departure.
“We confirm that Daniel Leon resigned from his position at Celsius and is no longer part of the organization,” confirmed a representative of Celsius in an email to MarketWatch.
Leon’s resignation was announced on Tuesday in an internal memo, which was reported by CNBC. The memo stated he will be replaced by Lior Koren, previously the company’s global tax director, who will be working from Israel for the firm based in Hoboken, New Jersey.
Prior to freezing customer withdrawals and filing for bankruptcy this summer, Celsius was one of the biggest crypto lending platforms. In October 2021, the firm had nearly $25 billion in assets under management and had reached a $3 billion valuation by the end of 2021.
Earlier this week, reports said that Mashinsky withdrew $10 million before the firm filed for chapter 11 bankruptcy in July.