Media reports Celsius cuts about 150 employees

The crypto-lending platform Celsius Network has laid off about 150 employees amid the ongoing liquidity crisis. Calcalist reports.

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According to the publication, among those affected by the optimization are the company’s representatives in Israel. Celsius Network did not respond to media requests for comment.

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According to the platform’s profile on LinkedIn, its staff numbers 650 employees. The headquarters are listed as Hoboken (New Jersey, United States), with additional offices in Israel and the United Kingdom.

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In a post dated June 30, Celsius paused withdrawals, trading and transfers between accounts “due to extreme market conditions.”

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Operating with the entire community and all clients in mind, we continue to take steps to preserve and protect assets and explore the options available to us. Our latest blog here https://t.co/ckIDi2O0Dc

— Celsius (@CelsiusNetwork) June 30, 2022

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“We are focused and working hard to stabilise liquidity and operations,” the blog says.

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In late June, a Celsius denied rumors about the CEO Alex Mashinsky’s attempt to fly out of the United States.

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