Celsius Network recruits new advisors against possible bankruptcy

Celsius Network recruits new advisors against possible bankruptcy

Crypto lending platform Celsius Network has hired advisors from a management consulting firm in case the company faces bankruptcy.

Celsius, the Wall Street Journal published Friday. to the news hired an undisclosed number of restructuring advisors from Alvarez & Marsal to advise on potential bankruptcy filing, according to the report. In another report published on June 14, Celsius was said to have agreed with lawyers to restructure the company, which was experiencing financial problems.

Celsius, which “stopped all withdrawals, swaps and transfers between accounts” on June 12, has been at the center of the media discussion about the crypto market volatility. The company’s CEO, Alex Mashinsky, and other top executives have largely remained silent since the announcement. The lending platform said it will suspend discussions on Twitter Spaces and the AMA on June 19 to focus on issues in its operations. had announced.

Celsius’s stopping of filming also drew the attention of state officials. Joseph Rotunda, executive director of the Texas State Securities Board, told Cointelegraph on June 16 that regulators from Alabama, Kentucky, New Jersey, Texas and Washington are examining the issue, which includes accounts frozen in Celsius. had announced.

Soruce : https://tr.cointelegraph.com/news/celsius-network-hires-advisers-ahead-of-potential-bankruptcy-report

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