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Celsius is referring to this as a restructuring rather than a liquidation, claiming to have $167m of cash on hand. It also has repaid most of its major outstanding DeFi loans (even though Celsius itself isn't DeFi). On the other hand, there are the pending investor and user losses tied to Celsius, which also is being sued by a former partner that accuses the company of being a "Ponzi scheme."
“This is the right decision for our community and company,” said Alex Mashinsky, Co-Founder & CEO, Celsius. “We have a strong and experienced team in place to lead Celsius through this process. I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company.”
