Former Algorand CEO Steve Kokinos has been named as the prospective CEO of the company succeeding Celsius' operations.
Kokinos joins eight other directors appointed to the board of the yet-to-be-named Delaware corporation, currently dubbed"NewCo,” according to aSix of the nine board members were appointed by Celsius’ creditors committee and two by Fahrenheit Holdings — the consortium that made thein May. The consortium plans to take over Celsius' institutional loan portfolio, staked crypto and bitcoin mining unit.
Kokinos parted ways with the Layer 1 staking-based blockchain Algorand in July 2022 and is a co-owner of Fahrenheit, alongside Arrington Capital, Ravi Kaza, Proof Group and crypto mining firm US Bitcoin Corp. The new board also includes Michael Arrington of Arrington Capital, the investment firm that led Fahrenheit’s bid; US Bitcoin Corp President Asher Genoot; Frederick Arnold, who is overseeing the estate of the defunct Lehman Brothers; WeWork audit committee Chair and ex-UBS Managing Director Elizabeth LaPuma; and ex-Credit Suisse investment banker Emmanuel Aidoo.
Celsius committee chairs Scott Duffy and Thomas DiFiore were also appointed to the new board. The committee represents the interests of Celsius’ creditors.
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