Alex Mashinsky, chief executive at bankruptcy crypto lender Celsius, has submitted a letter of resignation from his post Tuesday, effective immediately. "I will continue to maintain my focus on working to help the community unite behind a plan that will provide the best outcome for all creditors - which is what I have been doing since the Company filed for bankruptcy," Mashinsky wrote in a statement. Following the news, Celsius's CEL token has lost more than 8%, according to CoinDesk data. Celsius in July filed for bankruptcy restructuring after it froze all user withdrawals and transfers about a month earlier, citing "extreme market conditions." Bitcoin /zigman2/quotes/31322028/realtime BTCUSD -0.34% is down more than 55% year-to-date.