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Celsius Lays Off 150 Employees As Crypto Mayhem Continues To Haunt The Firm

Stock Markets Jul 03, 2022 16:10
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© Reuters. Celsius Lays Off 150 Employees As Crypto Mayhem Continues To Haunt The Firm

Cryptocurrency lender Celsius has laid off 150 employees, including some working in Israel and the U.S., reports Calcalist.

The workforce reduction comes as the company is exploring options like pursuing strategic transactions and restructuring its liabilities.

Recently, Sam Bankman-Fried-led FTX rejected a deal to acquire the lender after examining its balance sheet.

Celsius suspended withdrawals from its platforms last week. In addition, it paused all swaps and transfers between the platform’s accounts.

“We continue to take important steps to preserve and protect assets and explore options available to us. The options include pursuing strategic transactions and restructuring of our liabilities, among other avenues,” the firm said in a statement.

"Our relationship with the community and our clients has been a source of pride for all team members at Celsius, and we will continue to share information with our customers as and when it becomes appropriate," the company added in the statement.

Earlier this week, Celsius denied reports that CEO Alex Mashinsky had attempted to flee the U.S. after the company’s liquidity crisis worsened, leading to the halting of withdrawals.

Photo via FellowNeko on Shutterstock

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Celsius Lays Off 150 Employees As Crypto Mayhem Continues To Haunt The Firm
 

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