Israeli economics website Calcalist reported today in a news labeled “special” that the embattled cryptocurrency credit platform Celsius reported laying off 150 employees.
The company’s LinkedIn profile states that it has 651 employees and is headquartered in Hoboken, New Jersey. The company also has offices in Israel and the UK.
Calcalist noted that some of the dismissed workers were in Israel, adding that Celsius did not respond to a request for comment.
Celsius Appointed Citigroup for Consulting Last Week
We recently reported that he hired Citigroup to advise on the company’s financial options, and the Wall Street Journal said the company was working with restructuring advisors from consulting firm Alvarez & Marsal.
Two people familiar with the matter said last week that cryptocurrency exchange FTX was in talks with Celsius to provide financial support or buy it, but decided not to continue after examining the company’s financial situation.
“We are focused on stabilizing liquidity and operations and working as fast as we can to be in a position to share more information with the community,” Celsius wrote on its blog late last week.
The decline in the crypto money market has also negatively affected many crypto companies.
In particular, the wave of economic problems initiated by Three Arrows Capital (3AC) has spread to other crypto firms that have exposure to this company. BlockFi, which is among them, recently sat at the agreement table with FTX.
*Not investment advice.