{"id":62971,"date":"2022-06-15T20:15:44","date_gmt":"2022-06-15T17:15:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62971"},"modified":"2025-09-05T21:13:33","modified_gmt":"2025-09-05T18:13:33","slug":"media-celsius-hires-citigroup-to-explore-financing-options","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-celsius-hires-citigroup-to-explore-financing-options\/","title":{"rendered":"Media: Celsius hires Citigroup to explore financing options"},"content":{"rendered":"<p>The crypto-lending platform Celsius hired the financial conglomerate Citigroup to search for a possible solution to problems arising after the freezing of clients&#8217; assets. <a href=\"https:\/\/www.theblock.co\/post\/152230\/citigroup-celsius-advising-after-withdrawal-freeze\">The Block<\/a> reports, citing sources familiar with the matter.<\/p>\n<p>On June 13, 2022, Celsius <a href=\"https:\/\/forklog.com\/en\/news\/celsius-token-plunges-50-amid-withdrawal-suspension\">suspended<\/a> withdrawals and operations on the platform &#8216;due to extreme market conditions&#8217;. According to experts, the real cause of the event was a liquidity crisis, which prevented the company from making payments to clients.<\/p>\n<p>In the ensuing days, Celsius increased its debt positions in three main directions: MakerDAO, Aave and Compound. Apparently, the company spent a significant portion of its funds on these purposes.<\/p>\n<p>The Block&#8217;s sources stressed that Citigroup was hired &#8216;as an adviser&#8217; \u2014 the conglomerate &#8216;advises Celsius on possible financing options&#8217;, but will not provide funds from its balance sheet.<\/p>\n<p>The banking giant is allegedly studying an offer from Nexo, a lending platform competing with Celsius. Earlier the latter stated its willingness <a href=\"https:\/\/forklog.com\/en\/news\/nexo-proposes-to-acquire-celsiuss-loan-portfolio\">to acquire the company&#8217;s loan portfolio<\/a>. The offer runs until June 20.<\/p>\n<p>One of the publication&#8217;s sources noted that Citigroup had worked with Celsius before. According to him, the conglomerate previously advised the company on business matters and <a href=\"https:\/\/forklog.com\/en\/news\/celsius-mining-files-for-ipo\">potential <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span><\/a> of its subsidiary \u2014 Celsius Mining.<\/p>\n<p>The Wall Street Journal reported on May 15 that Celsius hired lawyers from Akin Gump Strauss Hauer &#038; Feld <a href=\"https:\/\/forklog.com\/en\/news\/celsius-network-token-price-rises-nearly-59\">for possible financial restructuring<\/a>. Journalists noted that the platform&#8217;s initial goal was to attract capital from investors.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto-lending platform Celsius hired the financial conglomerate Citigroup to seek a possible solution to problems arising after the freezing of clients&#8217; assets.<\/p>\n","protected":false},"author":1,"featured_media":62972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1798],"class_list":["post-62971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-citigroup"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=62971"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62971\/revisions"}],"predecessor-version":[{"id":62973,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62971\/revisions\/62973"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/62972"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=62971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=62971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=62971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}