July 19, 2022, 8:55AM EDT
• 4 min read

A Breakdown of Celsius' Chapter 11 Filing

Quick Take

  • Filed for Chapter 11 bankruptcy protection on July 13, 2022, in the Southern District of New York
  • Engaged with investment bank Centerview Partners (CVP), law firm Kirkland & Ellis (K&E), restructuring consultants Alvarez & Marsal (A&M) and Stretto mid-June 2022
  • July 7, 2022, KeyFi complaint in New York State Supreme Court against CNL and Celsius KeyFi LLC for breach of contract, negligent misrepresentation and fraud claims
  • Celsius currently employs 670 employees with 1.7mm users across  +100 countries and 300K daily active users with +$100 in balances on platform

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