Crypto lending firm Celsius has begun preparations for bankruptcy, hiring Alvarez & Marsal as a consultant to handle related matters, and seeking financial restructuring help from law firm AkinGumpStraussHauer & FeldLLP, according to decrypt.
Celsius CEO Alex Mashinsky dismissed rumors of the company’s bankruptcy filing on social media, but later acknowledged the situation and said: “This is a difficult time, your patience And support means the whole world to us.”