Layoffs, loan repayments, etc. are signs of Celsius’ bankruptcy. Skeptics cheer, investors fret, but Celsius Network is mum on its future.
Celius’s dismissal?
Celsius Network laid off 150 people, CTech reported. Fear of a Celsius collapse demands fiscal adjustment.
Due to “extreme market conditions,” Celsius Network suspended withdrawals on June 13. Richard Heart and others once criticized CEO Alex Mashinsky. He occasionally told “bad jokes.”
Mashinsky and his team tried to cover up the Celsius bankruptcy, but events didn’t help.
Some say Celsius directors struggle to manage risk. Duke’s Campbell Harvey said:
Given this space’s volatility, you need basic stress testing.
50 million dollars repaid in Bitcoins
Block Analitica mentions a refund. It’s a $50 million Aave bitcoin loan. Consequences: Celsius’ liquidation price drops to $8,838 and its vault is low-risk.
