Celsius Network's co-founder and chief strategy officer Daniel Leon has stepped down, the bankrupt crypto lender has said, joining a wave of executive departures from beleaguered digital asset companies.
The announcement comes a week after chief executive officer Alex Mashinsky's resignation.
New Jersey-based Celsius filed for Chapter 11 bankruptcy in July, a month after freezing withdrawals citing extreme market conditions.
Lenders such as Celsius boomed following the surge in popularity of major cryptocurrencies like Bitcoin, as they offered interest rates much higher than traditional banks and easy access to loans.
However, the collapse of digital tokens terraUSD and luna, coupled with a tough macroeconomic environment, tested their business model and eroded customers' optimism.
Voyager Digital (CSE:VYGR, OTCQX:VYGVF) Ltd, another major US crypto lender, also filed for bankruptcy in July.