Celsius Network hires advisors to prepare for potential bankruptcy – WSJ

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Celsius and Alvarez & Marsal did not immediately respond to Reuters requests for comment.

New Jersey-based Celsius – a major U.S. cryptocurrency lending company – froze withdrawals and transfers earlier this month, citing “extreme” market conditions.

The move was the latest sign of the financial market downturn hitting the cryptosphere and had sparked a selloff across cryptocurrencies.