Celsius reportedly seeks advice from lawyers on restructuring

Celsius reportedly seeks advice from lawyers on restructuring

Crypto lending platform Celsius Network (CEL) has onboarded restructuring lawyers from Akin Gump Strauss Hauer & Feld to find potential solutions to the firm’s financial woes. 

The firm is reportedly looking for other strategic alternatives, such as a financial restructuring, apart from its attempts to solve its current problems. The report also noted that Celsius is trying to find investors who would be able to provide financing options for the crypto lending company.

Citing extreme market conditions, Celsius paused withdrawals from its platform on Monday. Amid the withdrawal freeze, the firm has unstaked around $247 million in Wrapped Bitcoin (wBTC) from liquidity protocol Aave and sent it to the FTX exchange. Apart from its wBTC, the firm has also sent $74.5 million in Ether (ETH) to

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