According to the firm, Celsius CEO Alex Mashinsky has remained to work on restoring liquidity and operations rather than seeking to flee the country last week.
The struggling platform is doing everything it can to restore operations with CEO Alex Mashinsky, who is now based in the United States.
A representative for the platform has refuted claims that the Celsius Network’s persistent liquidity issue caused the company’s CEO to attempt to leave the country last week.
Celsius and Alex Mashinsky is doing everything to stabilize liquidity
“All our employees including our CEO are focused and hard at work in an effort to stabilize liquidity and operations. To that end, any reports that the CEO has attempted to leave the U.S. are false.”
After Mike Alfred, co-founder of the cryptocurrency analytics company Digital Assets Data claimed on Twitter on Sunday that Mashinsky attempted to leave the nation last week via Morristown Airport in New Jersey. Celsius made its statement shortly after.
According to Alfred, the CEO was attempting to travel to Israel, citing an unnamed source. He said, “Unclear at this time if he was arrested or just prevented from leaving.”
Alfred’s comments came after Celsius saw a significant “short squeeze” akin to that of GameStop, with the native token Celsius (CEL) rising by 300 percent in only one week by June 21.
On June 14, the price of CEL also rapidly rose by more than 600%, with observers attributing the occurrence to an exchange error or the liquidation of short speculators.
According to CoinMarketCap, CEL is now trading at $0.7299, down about 9% over the previous 24 hours. Over the last 14 days, the native token of Celsius has increased by more than 160 percent.