Crypto Lender Celsius Cuts 150 Jobs Amid Restructuring: Report
— Mid, Layoffs come amid uncertainty, Protect, “ preserve, Amid, Celsius, Protect assets ” following, Cuts, Since hired restructuring specialists, Lender — 1 min read
In June it paused withdrawals citing “extreme market conditions” and has since hired restructuring specialists. The company said it is exploring options to “preserve and protect assets” following its mid-June turmoil. The layoffs come amid uncertainty for the company as it faces possible insolvency. In June, the company paused withdrawal citing ‘extreme market conditions’ and hired restructuring experts to deal with the issue. The move comes amid uncertainty over the future of the company and its future of business in the U.S., which has a history of possible insolventcy issues. It says it is looking at options to "preserve" and ‘preserve’ its assets and “protect” assets. Source