Celsius Network Layoffs: 150 Employees Affected, According to CTech Reports

Troubled cryptocurrency lender Celsius Network’s woes continue to deepen. According to CTech reports, Celsius Network has laid off approximately 150 employees. This news comes amid growing concerns about the company's financial stability and the broader cryptocurrency market downturn.

According to the reports, Celsius Network has allegedly laid off 25% of its workforce, which includes around 150 employees. The report was first published by CTech, highlighting the extent of the company's restructuring. Crypto lending platform \ufeffCelsius Network\ufeff has downsized a quarter of its workforce – nearly 150 employees – as it battles financial challenges. The firm comprises approximately 650 employees in total, making this a significant reduction.

Celsius has joined a series of cryptocurrency firms to lay off employees as plunging prices and market contagion hits high-profile names. The troubled cryptocurrency lender is facing immense pressure. According to a recent report, Celsius Network has fired about a quarter of its employees. This comes just days after the company issued a statement, reassuring users, once again signaling the severity of the situation.

These layoffs, including those based in Israel, indicate a serious restructuring effort as Celsius navigates challenging market conditions. Stay tuned for updates on this developing story.