Celsius Network Shuns 150 Employees due to Crypto Winter

The problems of Celsius Network are reportedly getting more intense as it became inevitable for the firm to dismiss a considerable number of the employees working under it. As per a recently published report, nearly a quarter of the employees thereof have been fired on the behalf of Celsius Network. This has been witnessed only days following the issuance of a statement by the firm, reiterating that it is doing every possible effort to restart the withdrawals as well as resolve the problems thereof dealing with the liquidity as well as the withdrawals.

Celsius Suspends 150 Employees amid Market’s Bloodbath

A media outlet based in Israel – Calcalist – disclosed that the crypto lending platform has laid off up to 150 employees during the continuous endeavors taken on its behalf. The Linkedin page of the firm at the moment mentions that the total number of staff members thereof is 651, signifying that the suspended people make up almost a quarter. Only some days ago, a statement was issued by Celsius that the venue is concentrating as well as operating on bringing swift stability to the network’s operations as well as liquidity.

Nonetheless, in the recent messages of the firm, it did not disclose any particular moves that had been taken by it to tackle the ongoing problems. The post notes that they are moving toward some noteworthy steps to shield the assets as well as delve into the options that can be availed by them. These options take into account following systematic transfers and reorganization of their liabilities, along with the rest of the avenues.

Celsius Network Takes More Time to Solve the Matter

For another time, Celsius asked for some more time from the community to carry out the respective exhaustive activities. The company put a stop on the withdrawals along with the rest of the services provided on its network, in this June’s mid but has not resumed them yet. After that up till now, the firm has appointed restructuring lawyers and halted its Twitter Spaces and AMAs. Apart from this, some reports are pointing out that Alex Mashinsky – the CEO of the firm – attempted to escape the United States however the native authorities caught him.

Even then, the group behind the network refuted any of such rumors. Although the investors present on the platform have reportedly denied abandoning the firm, Goldman Sachs is supposedly endeavoring to raise nearly $2B to purchase the crypto assets of Celsius at a discount. A similar offer has also been given by Naxo.