Celsius Appoints New Law Office to Manage Restructuring

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The Wall Street Journal reports that cryptocurrency lender Celsius has hired new attorneys to lead its reorganization process less than a month after pausing customer withdrawals.

According to WSJ, Celsius recruited attorneys Kirkland & Ellis LLP instead of those from Akin Gump Strauss Hauer & Feld LLP who were hired last month when Celsius suspended operations.

Even while Celsius hasn't declared bankruptcy, there are growing concerns about its viability, and its partnership with Kirkland & Ellis LLP may signal a change in the overall strategy.