Crypto lending platform Celsius Network has laid off around 150 employees amid ongoing liquidity crunch. Calcalist writes about it.

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.

According to the LinkedIn profile of the platform, it has 650 employees. The city of Hoboken (New Jersey, USA) is indicated as the headquarters, additional offices are located in Israel and the United Kingdom.

In a June 30 post, Celsius Network said it “continues to take steps to conserve and protect assets and explore available options.” The latter includes strategic deals and restructuring of obligations, according to the company.

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

On June 13, Celsius suspended withdrawals, clearing and transfers between accounts “due to extreme market conditions”.

According to media reports, prominent investors of the crypto lending company have refused to give him additional funding.

Georgetown University law professor Adam Levitin said the Celsius leadership was betting on a “resurrection gamble”. According to him, the bankruptcy of the company is almost inevitable.

Recall that at the end of June, a representative of Celsius denied rumors about the attempt of the company’s CEO, Alex Mashinsky, to fly from the United States.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.