Michael Arrington, founder of Arrington Capital, announced his resignation from the board overseeing the bankruptcy plan of the now-defunct crypto lender Celsius.

“I will no longer be on the board of directors of the new company. Instead, Ravi Kaza, my partner at Fahrenheit, will take the seat. Ravi is an investor and advisor to Arrington Capital,” he stated.

Arrington Asserts Departure Was Voluntary

In a recent X (formerly Twitter) post, Michael Arrington cited disagreements over the board’s composition, especially regarding board observers, as his reason for departing the Celsius bankruptcy proceedings.

However, he remained secretive, avoiding delving into the specifics of the change:

“I am not able to go into much detail on why I requested this change, but that information will come out in due time. This statement was heavily edited by attorneys.”

A court filing on September 23 visibly confirmed the change, with Arrington being replaced by Ravi Kaza.

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Author: Ciaran Lyons

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