Celsius’s CSO stepped down one week after CEO Alex Mashinsky

Co-founder and Chief Strategy Officer Daniel Leon announced his departure in an internal memo.

Just a week after Celsius Network CEO Alex Mashinsky submitted his letter of resignation as a number of customers called for him to step down, another top executive of the troubled crypto lender has stepped down from his role.

On Tuesday, co-founder and Chief Strategy Officer of Celsius Daniel Leon resigned from his position at Celsius. Leon will be replaced by Lior Koren, previously the company’s Global Tax Director, who will be operating out of Israel for the firm.

After a long turmoil, on July Celsius filed for Chapter 11 bankruptcy in July, reporting a $1.19 billion deficit on its balance sheet and $40 million in claims against crypto hedge fund Three Arrows Capital. Prior the bankrupt, Celsius was one of the largest crypto lending platforms with more than $8 billion in loans to clients and almost $12 billion in assets under management.

According to court documents, Celsius top executives Alex Mashinsky, Daniel Leon and Nuke Goldstein withdrew $56 million in crypto weeks before the company froze customer accounts.