Celsius Network is laying off a quarter of its workforce, or 150 jobs, as the struggling cryptocurrency lender faces possible insolvency, according to a report by CTech on July 3.In total, Celsius has 645 employees listed on its LinkedIn page.The slash in headcount comes as it prepares for a potential bankruptcy after the firm had suspended withdrawals, swaps and transfers amid "extreme market conditions."The lender is joining other crypto-related firms in reducing headcount to survive the ongoing crypto winter. Crypto exchange Coinbase Global (COIN), for example, said in mid-June that it's cutting 18% of its workforce to better manage its expenses.At the end of June, Sam Bankman-Fried's FTX has abandoned a deal to buy Celsius given its poor financials.
