Risky business: Celsius crisis and the hated accredited investor laws
Accredited investor laws are the bane of many in the crypto industry, who see them as preventing small investors from accessing big opportunities. When Celsius was recently forced to cut off access to U.S. citizens who were not accredited investors, many cried foul.Did it help some users avoid the current crisis? Or do accredited investor laws go too far in saving users from themselves and from profits, too? Two weeks ago, as speculation about Celsius solvency began to mount, users started experiencing trouble withdrawing money from their accounts. Though Celsius CEO and founder Alex....
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Restructuring, bankruptcy, buyouts... media outlets are swarming with different reports on the next steps Celsius may take. Crypto lending platform Celsius Network has reportedly onboarded advisers from a management consulting firm in advance of the company possibly facing bankruptcy.According to a Friday report from the Wall Street Journal, Celsius hired an unknown number of restructuring consultants from the firm Alvarez & Marsal to advise the platform on potentially filing for bankruptcy. The report followed one from June 14, which said Celsius had hired lawyers in an attempt to....
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