A recent report claims that Celsius Network has let go around 25% of its workforce. Just a few days prior, the firm had released a statement assuring everyone that it was working nonstop to resume withdrawals and resolve its liquidity problems.
According to a note that the Israeli media source Calcalist got over the weekend, the crypto lender let go of over 150 staff as a result of its continuous difficulties.
In a recent statement, Celsius said they "are focused and working as swiftly as we can to normalize liquidity and operations."
Similar to earlier letters, the company gave no details regarding the efforts it has taken to address its problems. According to the blog post, the team continues to take important steps to preserve and protect assets and explore options available to them.
Also, the blog adds that the options include pursuing strategic transactions and restructuring of the company liabilities, among other avenues.
As these "exhaustive inquiries are complex and take time," Celsius once again pleaded with its community for additional time.
With the exception of all other network services, Celsius stopped withdrawals in the middle of June and has not yet started them again.
Since then, the business has hired restructuring attorneys, suspended AMAs and Twitter Spaces, and claims have surfaced that CEO Alex Mashinsky attempted to depart the country but was prevented by local law enforcement. The group, however, refuted these allegations.
Goldman Sachs is apparently attempting to raise $2 billion to purchase Celsius' crypto assets at a discount, despite the fact that existing investors reportedly refused to help save the company. Nexo also made the offer to buy them.