Celsius Acquires Serbian Blockchain Development Startup MVP Workshop
- Nearly 50 of MVP Workshop’s engineers and designers will form a Celsius development center in Belgrade.
- The Serbian startup has been working with Celsius for more than three years.
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According to a press release published on 22 June, Celsius has acquired a development division of MVP Workshop. Based in Belgrade, Serbia, the startup studio is a leader in blockchain product development and has previously worked on developing Celsius’ platforms.
With the acquisition, nearly 50 of MVP Workshop’s engineers and designers will join Celsius and form a development center in Belgrade. The newly created center will add to the research and development team based in Tel Aviv, Israel.
S. Daniel Leon, the COO and Co-Founder of Celsius, said that MVP Workshop is a great strategic fit for Celsius that will allow the company to better align product development, customer service, and back-office operations for scalability.
“This merger will allow MVP Workshop employees who have been working on the project for more than three years to become an integral part of a leading blockchain finance company that shares our values,” said Ivan Bjelajac, the CEO of MVP Workshop. “This will help us scale in the long run, and I am very thankful to Celsius for the journey we had this far, and for the one that lies ahead.”
Bjelajec will act as the new manager of the Celsius development center in Belgrade and operate under the leadership of Nuke Goldstein, the CTO and Co-Founder of Celsius.
- The bankrupt crypto lender said that if its reorganization plan is approved, it is ready to start repaying its customers using $2 billion in BTC and ETH by the end of the year.
- If given the green light, Celsius will restart its business under the “NewCo” brand without any funded debt, and with seed funding of up to $450 million.
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- The bankrupt crypto lender has agreed on a settlement with its Series B holders on how to distribute the $25 million from the sale of self-custody platform GK8.
- The majority of funds, $24 million, will be allocated for legal expenses, while the remaining $1 million will be distributed between the Series B holders.
- The U.S. SEC, CFTC, and FTC have all filed separate lawsuits against bankrupt crypto lender Celsius and its former CEO Alex Mashinsky, charging them with multiple counts of fraud.
- Mashinsky was also arrested in New York on Thursday, and later charged by the Department of Justice with securities fraud, commodities fraud, and wire fraud.