Alex Mashinsky withdrew the money weeks before the Caisse de dépôt et placement du Québec-backed company froze customer accounts, preventing retail investors from accessing their savings, the Financial Times reported citing people familiar with the matter. (Financial Times)

Talking point: A spokesperson for Mashinsky, who stepped down as CEO last week, told the Financial Times he disclosed the withdrawal to the official unsecured creditors committee and that he and his family still had US$44 million frozen with Celsius. That’s likely to be cold comfort to Celsius investors, who have described the devastating effect the company’s collapse has had on their lives and finances, however. On Friday, the U.S. Department of Justice asked the bankruptcy court to deny Celsius’s request to reopen withdrawals for some creditors and sell certain assets. The Caisse and fellow investor Westcap are seeking representation in Celsius’s bankruptcy proceedings.