Bankrupt crypto lender Celsius wants to rehire former executive at $93,000 a month
CBSN
Cryptocurrency lender Celsius, which filed for bankruptcy last month, is now asking to pay a former executive handsomely while it moves through legal proceedings.
Celsius, which once touted itself as "better than a bank," filed for bankruptcy in July with about $167 million in cash on hand and assets worth $4.3 billion, while owing about $4.7 billion to users, according to bankruptcy filings. The company froze users' accounts on June 13 as cryptocurrencies were plummeting in value and many investors were trying to withdraw their funds.
Celsius is now seeking a judge's permission to pay its former chief financial officer $93,000 per month while the bankruptcy filing makes its way through court. The company on July 25 asked New York's Southern District Bankruptcy Court to allow it to hire former CFO Rod Bolger as a consultant, citing the "need for stability" and his financial expertise in its request to keep him on board.
