THE COMPANY HAS CUT OF 150 STAFF MEMBERS IN ORDER TO CONTINUE ITS RESTRUCTURE!

According to Calcalist, Celsius, an American-Israeli crypto lender, fired 150 staff members over the weekend. As it confronted a financial problem that compelled it to stop customer withdrawals last month.

Given that the company has about 650 people, including leaders, listed on LinkedIn, 23% of the workforce was impacted.

The corporation is potentially on the verge of insolvency during the layoffs. Withdrawals were stopped in June due to “extreme market conditions,” and restructuring specialists have since been employed. After the unrest in mid-June, the firm declared that it was researching measures to “preserve and defend assets.”

According to reports, Goldman Sachs is organizing investors’ $2 billion fundraising effort to buy Celsius’ troubled assets. But according to reports, after looking into the lender’s finances, cryptocurrency exchange FTX declined a bid to buy it.

Celsius has joined a growing list of companies cutting workers with the cryptocurrency market in a bearish state. Over 1,100 employees were let go by Coinbase in June, and staff members have also been allowed to go by Bybit, Huobi, Banxa, and other exchanges in the preceding month.
According to CoinGecko data, prices for Celsius’ CEL tokens have increased by 15% during the last day.