Celsius, a company that previously offered high interest rates on crypto deposits but was found to be fraudulent, has emerged from bankruptcy and rebranded as Ionic Digital. However, the relaunch has been rocky, with a new team of directors paying themselves hefty compensation packages for running the mining business. Despite the high pay rates, Ionic has been unable to retain talent, losing multiple CEOs, CFOs, and directors. Additionally, shareholders who received compensation in shares of Ionic are now finding those shares to be worthless and are suing the company to install their own board of directors. The company and its counsel have yet to respond in court. Celsius founder Alex Mashinsky, who is awaiting his prison sentence, pleaded guilty to financial fraud in December 2024.



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