Troubled cryptocurrency lending platform Celsius has cut 150 employees, Israeli business website Calcalist said today in a story tagged “exclusive.”
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The company’s LinkedIn profile lists 651 employees, with its headquarters in Hoboken, New Jersey. It also has offices in Israel and the UK.
Calcalist said some of the retrenched workers were in Israel, adding that Celsius did not respond to a request for comment.
The Block reported recently that Celsius had appointed Citigroup to advise on its financial options, and the Wall Street Journal said the lender was working with restructuring consultants from advisory firm Alvarez & Marsal.
Crypto exchange operator FTX held talks with Celsius about providing financial support or making an acquisition, but decided against proceeding after examining Celsius’s finances, two people with knowledge of the matter told The Block last week.
“We are focused and working as quickly as we can to stabilize liquidity and operations, in order to be positioned to share more information with the community,” Celsius wrote on its blog late last week.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Mike Millard has worked as an editor for Bloomberg and Reuters, various newspapers and websites. He lived in Asia for more than two decades and now calls the Greek island of Corfu home. He is the author of three books.
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