Celsius, an American-Israeli cryptocurrency lending platform, is laying off approximately 150 employees, which represents about a quarter of its workforce. This significant staff reduction comes as the company grapples with a severe financial crisis, having paused all customer withdrawals three weeks prior due to extreme market conditions. The layoffs, occurring in early July 2022, are part of broader organizational changes as Celsius has hired restructuring consultants to explore options, including strategic transactions and liability restructuring, in an effort to stabilize its operations and liquidity.
