Ex-Algorand CEO Steve Kokinos tapped to lead Celsius 2.0

According to court filings, the board will be expanded to nine seats


mundissima/Shutterstock modified by Blockworks


NewCo may soon have a new CEO. 

The new company would rise from the ashes of the bankrupt crypto lender Celsius.

A filing on Friday, Sept. 8 nominates nine new directors and Steve Kokinos as CEO. 

The plan, which the creditors and Fahrenheit put together, boosted the number of seats on the board from seven to nine. 

Kokinos stepped down as CEO of Algorand in July of last year. He’s also a co-owner of Fahrenheit, which won the auction for Celsius in May of this year. As part of the deal, Fahrenheit took control of around $500 million worth of liquid crypto.

“Kokinos has been a serial entrepreneur and investor for over 25 years, founding and operating companies ranging from internet infrastructure, cloud software, communications and crypto,” the 170-page document said.

Michael Arrington, the founder of Arrington Capital, is also named as a possible board member in the documents. Arrington Capital is also an equity owner of Fahrenheit. 

Other board members include Thomas DiFiore, Scott Duffy, Emmanuel Aidoo, Elizabeth A. LaPuma, and Fredrick Arnold.

Celsius received court approval on its disclosure statements detailing a plan to sell assets to Fahrenheit in August. With the approval, the bankrupt crypto lender moved a step closer to exiting the bankruptcy process. 

Earlier this summer, the Commodities Futures Trading Commission, Federal Trade Commission and the US Securities and Exchange Commission. The CFTC claimed that Celsius “duped” customers into depositing crypto on Celsius.

The Department of Justice also charged ex-Celsius CEO Alex Mashinsky with defrauding customers. According to recently unsealed documents, the DOJ froze Mashinsky’s assets in August.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space


Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?


Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month


It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet


Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend


Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million