The CEO and founder of Celsius Network, Alex Mashinsky has tweeted a message of gratitude to its users for their patience, amid rumors of insolvency.
The tweet reads, “@CelsiusNetwork team is working non-stop. We’re focused on your concerns and thankful to have heard from so many. To see you come together is a clear sign our community is the strongest in the world. This is a difficult moment; your patience and support mean the world to us.”
Notably, the CEO gave no concrete answers or timeline as to when and how the issue might be resolved.
Celsius Network is a crypto lender which has halted withdrawals, swaps and transfers between accounts since June 13 due to the “extreme market conditions.”
Allegedly, the company ran out of liquid funds to pay back their investors who were redeeming positions.
Celsius Network has since lawyered up and hired restructuring attorneys from law firm Akin Gump Strauss Hauer & Feld LLP.
The company is apparently seeking potential financing options from investors, but it is also considering other strategic options, such as a financial restructuring.
