Crypto

Shaking up crypto leadership breathes new life into the industry

Another round of executive departures hit the crypto industry on Tuesday, the latest sign that the fallout from this year’s steep price decline – also marked by a pullback from capital risk, widespread layoffs and growth regulatory review – has not yet taken its course.

The first came to say Celsius Network Ltd. CEO Alex Mashinsky — who helped find the crypto lender and was a cheerleader for its high-yield offerings until the company ran into trouble — resigned, calling his leadership a “growing distraction” as the company struggles to survive its bankruptcy proceedings. Then FTX US President Brett Harrison announced that he was retiring from the crypto exchange and evolve into an advisory role. He will be replaced by Zach Dexter, head of FTX US Derivatives, according to a company spokesperson.

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