Former Celsius CEO Wants $1B to Rebrand the Company
Notably, the new project which is aimed at focusing on Yield and Custody was pitched to Goldman Sachs and Abu Dhabi-backed fund ADQ in May and June, respectively before filing for bankruptcy protection in Mid-July. advertisement Additionally, Mashinsky also pitched the project to his Board, which up until June of last year featured Laurence Tosi and a representative of Canadian Caisse de Depot et Placement du Quebec. Interestingly, these investors jointly spent $750 million in Celsius in 2021 but had no interest in CWS. Interestingly, a Goldman presentation published in May 2022 revealed that Celsius planned to investigate how it could collaborate with the bank to increase its involvement in the cryptocurrency market. Did Mashinsky’s Project Come Late? It appears that Mahinsky’s attempt to steer the company away from its primary activity of lending out crypto assets was too little, too late. Celsius eventually filed for bankruptcy in July, aft...