June 29, 2022

Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journal report, quoting “people familiar with the matter,” explains that the company is reportedly hiring restructuring lawyers. Basically, hiring restructuring and insolvency attorneys is one of the first stages of fixing a company’s financial hardship by essentially attempting to avoid insolvency.

On June 13, 2022, Bitcoin.com News reported on the lending platform Celsius shutting down specific operations such as withdrawals, swaps, and account transfers. Those operations are still not available to Celsius customers, and a recent report published by the Wall Street Journal (WSJ) explains that Celsius may be seeking help from a restructuring law firm.

Report Says Celsius Is Looking for Help From Investors or a Well Known Restructuring Law Firm

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