Cryptocurrency lender Celsius Network LLC has hired Akin Gump Strauss Hauer& Feld LLP restructuring attorneys to advise on processes to address its financial challenges.
This follows the decision by the company to freeze withdrawals, transfers, and swaps in what it attributed to extreme market conditions.
Sources have it that Celsius is searching for possible financing options from investors and other strategic alternatives, including the looming financial restructuring.
The company has announced that it is moving promptly and will share information when appropriate. It adds that all the moves will be in accordance with the interest of the community.
Source: WSJ
