• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Celsius

Crypto Winter Makes Celsius To Cut Its Workforce By 25%

Alizeh Ilyas
by Alizeh Ilyas
3 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Current downtrends in crypto prices have forced many digital asset service providers to reduce their staff to survive in a time when low trading volumes have reduced revenue. Despite the market currently facing significant lows, industry leaders are speculating there is no light ahead, and the market will remain low for the whole of next year.

Similarly, following the footstep of other tech companies operating worldwide, the crypto lending firm Celsius had to shrink its workforce by 25% due to liquidity crises, reported Israeli media outlet Calcalis on Sunday.

Related Reading | Crypto Lender Vauld Halts Withdrawals As Stress Mounts On Crypto Industry

Notably, since the low prices of digital currencies have been devastating the spirit of investors, the American-Israeli lending firm Celsius has hired restructuring consultants and lawyers to make necessary changes to fight in a time of financial instability.

Without narrating the specific action the company could take, Celsius added in its official blog post on Monday:

We are focused and working as quickly as we can to stabilise liquidity and operations in order to be positioned to share more information with the community. We are operating with the entire community and all clients in mind as we work through these challenging times.

The team of Celsius further added on their site that they would keep updating its community with the necessary information and will work with the experts till the experts handle the issues. It reads:

 We continue to take important steps to preserve and protect assets and explore options available to us. These options include pursuing strategic transactions as well as a restructuring of our liabilities, among other avenues. These exhaustive explorations are complex and take time, but we want the community to know that our teams are working with experts from many different disciplines.

BTCUSD_
Bitcoin’s price currently trades below $20,000 on the daily chart | BTC/USD price chart from TradingView.com

Celsius Paused Withdrawals Due To Liquidity Issues

Also, on June 13, Celsius announced the cancellation of all withdrawals and deposits, citing the “extreme market conditions.”

Celsius is a crypto lending firm founded in 2017 and lends digital assets to receive a return. As of May 17, it has processed around $8.2 billion in loans with $11.8 billion worth in assets. After raising $750 million in last year’s funding round, the company’s valuation has now reached $3 billion.

Many other crypto businesses around the globe have taken a similar initiative to keep afloat. Recently, the Australian-based crypto gateway, Banxa, known for its service for changing crypto to fiat and vice versa, fired 30% of its work staff due to the downtrends. Expressing the reason behind this move, the company’s CEO, Holger Arians, reiterated that the company needs to minimize its cost. In addition, Mr. Arian speculated that the market would see these heavy price dumps for the next 12 months.

Related Reading | Crypto Payment Channel Banxa Reduces Its Staff By 30% To Survive Crypto Winter

Other companies that reduced their workforce due to low trading volume in the bloodbath include Crypto.com and BlockFi. BlockFi laid off 20% of its staff while Crypto.com suspended 260 employees, equating to 5% of the whole team.

Featured image from Pixabay and cart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Alizeh Ilyas

Alizeh Ilyas

Follow

With over 3 years of crypto writing experience, Alizeh Ilyas have a deep understanding of cryptocurrencies, blockchain, Fintech, web3, crypto market analysis, predictions, and more. Her passion for innovation shines through her work. Keeping a keen eye on the future of digital finance, she bridges gaps between technology and readers.

Full Profile

Related Posts

Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

28 minutes ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

2 hours ago
SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

2 hours ago
XRP

XRP In The Skies: Air China May Let Millions Pay With Crypto

4 hours ago
Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

3 hours ago
crypto, Coinbase, SEC, PayPal

US SEC Under Fire For Gensler’s ‘Missing’ Texts From Key Crypto Crackdown Period

8 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    18 hours ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    18 hours ago
  • miner

    Cardano (ADA) Market Outlook: Long-term Potential Passive...

    19 hours ago
  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    24 hours ago
  • miner

    BAY Miner Cloud Mining App Launches with ETH and BTC Users...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.