Crypto lender Celsius Network -To The Moon - Tiger Brokers Online Investing Community - To The Moon

Crypto lender Celsius Network LLC has hired restructuring attorneys from law firm Akin Gump Strauss Hauer & Feld LLP to advise on possible solutions for its mounting financial problems, the Wall Street Journal reported.

Celsius is first looking for possible financing options from investors, but is also exploring other strategic alternatives, including a financial restructuring, the newspaper said, citing people familiar with the matter.

Celsius Network and Akin Gump did not immediately respond to Reuters' requests for comment.

The crypto lender said on Sunday it was pausing all swaps, transfers and withdrawals between accounts due to extreme market conditions.

The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday for the first time since January 2021.

As of May 17, Celsius had $11.8 billion in assets, its website showed, down by more than half from October, and had processed a total of $8.2 billion worth of loans.

Rival crypto lender Nexo said on Monday it had offered to buy Celsius' outstanding assets.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

ElvisMarner
2022-06-17
ElvisMarner
Cryptocurrencies are too uncertain, which is why I don't invest in them.
MortimerDodd
2022-06-17
MortimerDodd
Celsius is impacting the cryptocurrency market too much.
Maria_yy
2022-06-17
Maria_yy
I hope this matter can be handled well.
EvanHolt
2022-06-17
EvanHolt
If bitcoin continues to fall, it's the killer.
ramondk
2022-06-15
ramondk
Looks promising
SLHengHuat
2022-06-15
SLHengHuat
thanks for sharing

Leave a comment

75

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":9055869384,"tweetId":"9055869384","gmtCreate":1655256945048,"gmtModify":1676535597475,"author":{"id":3583241719564784,"idStr":"3583241719564784","authorId":3583241719564784,"authorIdStr":"3583241719564784","name":"alex alexalex","avatar":"https://community-static.tradeup.com/news/70b9686e00805fd5dc432e73e65c8f37","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":130,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Crypto lender Celsius Network LLC has hired restructuring attorneys from law firm Akin Gump Strauss Hauer &amp; Feld LLP to advise on possible solutions for its mounting financial problems, the Wall Street Journal reported.</p><p>Celsius is first looking for possible financing options from investors, but is also exploring other strategic alternatives, including a financial restructuring, the newspaper said, citing people familiar with the matter.</p><p>Celsius Network and Akin Gump did not immediately respond to Reuters' requests for comment.</p><p>The crypto lender said on Sunday it was pausing all swaps, transfers and withdrawals between accounts due to extreme market conditions.</p><p>The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday for the first time since January 2021.</p><p>As of May 17, Celsius had $11.8 billion in assets, its website showed, down by more than half from October, and had processed a total of $8.2 billion worth of loans.</p><p>Rival crypto lender Nexo said on Monday it had offered to buy Celsius' outstanding assets.</p></body></html>","htmlText":"<html><head></head><body><p>Crypto lender Celsius Network LLC has hired restructuring attorneys from law firm Akin Gump Strauss Hauer &amp; Feld LLP to advise on possible solutions for its mounting financial problems, the Wall Street Journal reported.</p><p>Celsius is first looking for possible financing options from investors, but is also exploring other strategic alternatives, including a financial restructuring, the newspaper said, citing people familiar with the matter.</p><p>Celsius Network and Akin Gump did not immediately respond to Reuters' requests for comment.</p><p>The crypto lender said on Sunday it was pausing all swaps, transfers and withdrawals between accounts due to extreme market conditions.</p><p>The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday for the first time since January 2021.</p><p>As of May 17, Celsius had $11.8 billion in assets, its website showed, down by more than half from October, and had processed a total of $8.2 billion worth of loans.</p><p>Rival crypto lender Nexo said on Monday it had offered to buy Celsius' outstanding assets.</p></body></html>","text":"Crypto lender Celsius Network LLC has hired restructuring attorneys from law firm Akin Gump Strauss Hauer & Feld LLP to advise on possible solutions for its mounting financial problems, the Wall Street Journal reported. Celsius is first looking for possible financing options from investors, but is also exploring other strategic alternatives, including a financial restructuring, the newspaper said, citing people familiar with the matter. Celsius Network and Akin Gump did not immediately respond to Reuters' requests for comment. The crypto lender said on Sunday it was pausing all swaps, transfers and withdrawals between accounts due to extreme market conditions. The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday for the first time since January 2021. As of May 17, Celsius had $11.8 billion in assets, its website showed, down by more than half from October, and had processed a total of $8.2 billion worth of loans. Rival crypto lender Nexo said on Monday it had offered to buy Celsius' outstanding assets.","highlighted":2,"essential":1,"paper":1,"likeSize":75,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/9055869384","repostId":0,"isVote":1,"tweetType":1,"viewCount":1609,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":910,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":102398848,"commentId":"102398848","gmtCreate":1655478220137,"gmtModify":1663252134944,"authorId":9000000000000601,"author":{"id":9000000000000601,"idStr":"9000000000000601","authorId":9000000000000601,"name":"ElvisMarner","avatar":"https://static.tigerbbs.com/6feca155d0db09a740c96d3ac91f0628","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9055869384,"objectIdStr":"9055869384","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Cryptocurrencies are too uncertain, which is why I don't invest in them.","text":"Cryptocurrencies are too uncertain, which is why I don't invest in them.","html":"Cryptocurrencies are too uncertain, which is why I don't invest in them.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":102398839,"commentId":"102398839","gmtCreate":1655478208138,"gmtModify":1655483641966,"authorId":9000000000000469,"author":{"id":9000000000000469,"idStr":"9000000000000469","authorId":9000000000000469,"name":"MortimerDodd","avatar":"https://static.tigerbbs.com/45889c069df88784e75b651f763a062a","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9055869384,"objectIdStr":"9055869384","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Celsius is impacting the cryptocurrency market too much.","text":"Celsius is impacting the cryptocurrency market too much.","html":"Celsius is impacting the cryptocurrency market too much.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":102398851,"commentId":"102398851","gmtCreate":1655478226191,"gmtModify":1663252134838,"authorId":9000000000000478,"author":{"id":9000000000000478,"idStr":"9000000000000478","authorId":9000000000000478,"name":"Maria_yy","avatar":"https://static.tigerbbs.com/168415c8fa94e7b14ffb415e8098eac9","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9055869384,"objectIdStr":"9055869384","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"I hope this matter can be handled well.","text":"I hope this matter can be handled well.","html":"I hope this matter can be handled well.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":102398842,"commentId":"102398842","gmtCreate":1655478213403,"gmtModify":1663252134727,"authorId":9000000000000592,"author":{"id":9000000000000592,"idStr":"9000000000000592","authorId":9000000000000592,"name":"EvanHolt","avatar":"https://static.tigerbbs.com/1cd57814a32b0b71cd3970e95d101105","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9055869384,"objectIdStr":"9055869384","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"If bitcoin continues to fall, it's the killer.","text":"If bitcoin continues to fall, it's the killer.","html":"If bitcoin continues to fall, it's the killer.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":102343043,"commentId":"102343043","gmtCreate":1655259334291,"gmtModify":1663251897149,"authorId":4104376679082200,"author":{"id":4104376679082200,"idStr":"4104376679082200","authorId":4104376679082200,"name":"ramondk","avatar":"https://community-static.tradeup.com/news/af3a4f817adb98c8e32b6b8b4cc0d1df","vip":1,"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9055869384,"objectIdStr":"9055869384","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Looks promising","text":"Looks promising","html":"Looks promising","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0},{"id":102342936,"commentId":"102342936","gmtCreate":1655259183871,"gmtModify":1663251895233,"authorId":4098953979648150,"author":{"id":4098953979648150,"idStr":"4098953979648150","authorId":4098953979648150,"name":"SLHengHuat","avatar":"https://community-static.tradeup.com/news/a399e9995416d904f201cf2f32456e74","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9055869384,"objectIdStr":"9055869384","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"thanks for sharing","text":"thanks for sharing","html":"thanks for sharing","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/9055869384"}