Celsius creditor committee proposes to sue Celsius Lianchuang and other senior executives

According to the report, the official committee of Celsius creditors proposed to sue Alex Mashinsky, the co-founder of Celsius, and other senior executives, accusing them of “fraud, recklessness, serious mismanagement and self-interest”, which eventually led to the collapse of this cryptocurrency lending institution. In a lawsuit filed with the New York Bankruptcy Court on February 14, the lawyer said that the negligent and reckless investment of these executives led to a loss of $1 billion for Celsius in one year, while mismanagement led to another loss of $2.5 billion. Since then, there has been no investment or development company system to fully solve the problem, resulting in further losses.

Interpretation of this information:

The official committee of Celsius creditors is proposing to sue Alex Mashinsky and other senior executives of the cryptocurrency lending institution for “fraud, recklessness, serious mismanagement and self-interest” that resulted in its collapse. The lawsuit filed with the New York Bankruptcy Court alleges that the executives’ investments were negligent and reckless, leading to a loss of $1 billion in one year, while mismanagement resulted in a loss of $2.5 billion. The lack of a system to address the issue has caused further losses.