Celsius Undergoing Restructuring Process With Attorneys To Address Potential Insolvency: Report

Celsius Undergoing Restructuring Process With Attorneys To Address Potential Insolvency: Report


An embattled crypto lending platform is contemplating a financial restructuring plan in the wake of its native token dropping by 99% from its all-time high.

In a new report, the Wall Street Journal reveals Celsius Network (CEL) has engaged the services of the Akin Gump Strauss Hauer & Feld law firm to explore its options in the face of potential insolvency.

This past Sunday, Celsius Network announced that extreme volatility in the cryptocurrency markets made it necessary to temporarily stop withdrawals and transfers “in order to stabilize liquidity and operations while we take steps to preserve and protect assets.”

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The WSJ report says the crypto lender’s potential options include cash infusions from investor financing as well as undergoing restructuring, a move that could entail changing

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