Celsius recruits the veterinarian of the Royal Bank of Canada as a CFO after the predecessor arrest

Celsius recruits the veterinarian of the Royal Bank of Canada as a CFO after the predecessor arrest

The cryptocurrency loan Celsius has won a graduate of the Royal Bank of Canada as a new Chief Financial Officer, the company's CEO, Alex Mashinsky, told Blockworks.

Rod Bolger previously held the same title at Canadian bank, one of the largest in the country. He has more than 25 years of experience in traditional finance and worked at the Bank of America, Citigroup and PWC, among others.

Bolger replaces the interim CFO of Celsius, Roni Cohen-Pavon, who will keep his role as Chief Revenue Officer of the company. Cohen-Pavon joined after the former CFO Yaron Shalem was suspended last year after his arrest in Israel on suspicion of money laundering.

Mashinsky said Blockworks that Shalem has now been released.

"[Shalem] was interrogated by the police in relation to a matter that happened before he came to Celsius, so we suspended him. And since then he has not been in the company," said Mashinsky. "It's not a good situation, but nothing he did had to do with Celsius, so there was no money at Celsius or there was no misconduct."

Bolger has the task of implementing controls to protect customer assets and supporting the company in global expansion.

"I am very happy about the opportunity to join a rapidly growing mission -based company like Celsius," said Bolger in a statement. "I feel happy to be able to contribute my traditional financial and banking experience in order to contribute to the growth of this visionary global company."

This step contributes to the continued trend that talents from other industries, mainly from the financial sector, migrate into crypto technology. This shift has developed for years and is expected to continue to accelerate, reported block works.

Bolger deserves over 4 million US dollars Data from the Institute for Economic Research. He left the bank in September 2021 after five years.

"The fact that he wanted to get into crypto technology is phenomenal," said Mashinsky. It is rare that highly paid managers switch from banks to crypto companies, but Bolger did what volumes speaks for the ability of the crypto industry to attract talents, added Mashinsky.

"There are CFOs that crack numbers, and there are CFOs that love to found companies and, [Bolger] does the latter," he said.

Celsius has processed loans of over $ 8.2 billion, assets of over $ 18.9 billion and around two million community members (as of February 18). specified . In November, the company expanded its 400 million $ 400 million funding round to exaggerated $ 750 million and thus marked one of the largest financing rounds in crypto history.

Celsius hopes that, among other companies focused on crypto, it can continue to "build this bridge from Tradfi to Krypto" by bringing talents from both traditional finance and crypto, commented Mashinsky.

"We don't want to take over the worst habits from Wall Street, we want to bring the best ideas that can help crypto ... There are trillions of dollars [in traditional finance] that have to cross this bridge," said it, "said Mashinsky.

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The contribution Celsius recruits the veterinarian of the Royal Bank of Canada as a CFO after the arrest of the predecessor is not financial advice.