Celsius’ big creditors shouldn’t invest more to save the company

Celsius Network investors are unlikely to provide additional funding to rescue the struggling cryptocurrency lender, people with knowledge of the situation have said.

Celsius has hired restructuring lawyers from the law firm Akin Gump Strauss Hauer & Feld LLP to help resolve its growing financial problems and review options, including new investments or financial restructuring, according to the report. the wall street journal earlier this week.

Existing investors appear ready to back down and let another company try to buy the business, or simply let the company restructure, according to another person familiar with efforts to save the company from Celsius.

Elmer Hayward

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