Celsius Hired Consultants to Advise on Bankruptcy Filing: Report

Celsius Network has hired specialists from advisory firm Alvarez & Marsal to consulate it on a possible bankruptcy filing, The Wall Street Journal reports, citing people familiar with the matter.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The report says that the New Jersey lending giant earlier also contacted law firm Akin Gump Strauss Hauer & Feld LLP to get more information about restructuring options.

Celsius Suspends Interest Payments for New US Clients

Earlier, Celsius’ representatives wrote in a blog post that the company will now hold Twitter Spaces and AMAs to focus on “unprecedented challenges.” In early June, Celsius suspended withdrawals, swaps, and transfers, citing extreme market volatility. As of press time, the company hasn’t resumed its services.

Access more than 50 of the world’s financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange