Today in Crypto: Blockchain Australia Gets New CEO

Blockchain Australia’s board of directors has announced Laura Mercurio as its new CEO, according to a press release.

The change will take place from September 12 this year. Blockchain Australia is the Australian body, representing Australian businesses and professionals working in the digital economy with blockchain.

Blockchain Australia says it is heading into “a period of significant regulatory and policy consultation that will shape the regulatory future of digital assets in Australia”, which Mercurio will help guide.

“With the rapid adoption of Blockchain and crypto assets, this technology offers opportunities to fundamentally transform the way industries solve everyday problems,” Mercurio said. “I look forward to advancing the innovation ecosystem and working closely with members, industry, governments and regulators to deliver digital solutions.”

His previous experience includes working with many global investment banks like BlackRock, Merrill Lynch and Deutsche Bank, as well as FinTechs and regulators.

In other news, bankrupt crypto lender Celsius Network may have hidden its financial troubles from investors, engaging in “inappropriate manipulation” of the price of the platform’s tokens to increase its own balance sheet, a court deposit said.

Bloomberg wrote that the trustee handling the bankruptcy case said he was seeking an examiner to help clear up “confusion and anxiety” with additional information.

The new filing shows Celsius recorded “massive losses” in the first seven months of 2021, which include “two significant adverse events” in June and July of that year. The company reportedly hid those losses from investors despite federal laws to disclose financial statements.

The company also allegedly manipulated the price of the CEL token, which could have “artificially inflated” CEL holdings on its balance sheet. The filing indicates that the company did not earn enough revenue to support the returns paid out to investors.

Celsius did not respond to a request for comment from PYMNTS.

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