Media: Celsius cuts its staff by one-quarter

Earlier, the platform’s representatives said about active work on resuming withdrawals and resolving liquidity issues

04.07.2022 - 10:15

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What’s new? Celsius, a DeFi platform for lending and staking cryptocurrencies, has laid off 150 employees, Calcalist reports. Previously, the company said about accelerating work on resuming the withdrawal function and resolving liquidity issues. According to Celsius’ LinkedIn profile, the company had 647 employees. The platform’s representatives did not respond to a media request for comment.

Calcalist’s material

Celsius situation. Following the suspension of withdrawals, regulators in five US states launched an investigation into Celsius. The company hired experts from Citigroup’s investment bank to find new sources of financing and lawyers from Akin Gump to conduct restructuring. Celsius’ investor Simon Dixon offered to restore the platform by restructuring and relaunching it, or by raising funding from the community and large BTC holders.

Investment bank Goldman Sachs is looking for investors to buy back Celsius’ assets for $2 billion. The FTX exchange refused to buy the platform after discovering a discrepancy of a similar amount on its balance sheet.

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