Utoday: Celsius Has $1.2 Billion Hole in Balance Sheet
News
Utoday: Embattled cryptocurrency lender Celsius recently filed for bankruptcy protection
Celsius CEO Alex Mashinsky has admitted that the company had a $1.2 billion hole in its balance sheet gap, according to the company’s bankruptcy documents. It was previously rumored that the huge balance sheet hole was the reason why cryptocurrency exchange FTX passed on the deal to acquire Celsius. The beleaguered crypto lending firm has $4.3 billion worth of assets and $5.5 billion worth of liabilities.
Read more on U.Today https://u.today/celsius-has-12-billion-hole-in-balance-sheet-ceo-reveals
Related Articles
Exploring Grayscale's New Investment Trust for Avalanche's AVAX Token
Introduction to Grayscale's New AVAX Investment Trust In a significant development within the cryptocurrency investment space, Grayscale Investments has recently launched the Grayscale Avalanche Trust. This new financial vehicle is designed to provide investors with direct exposure to Avalanche's native token, AVAX. About Grayscale Investments Grayscale Investments is a leading name in the cryptocurrency investment […]
Ethereum Developer Reveals Timeline for Final Testnet "Merge" Upgrade
In a tweet, Ethereum developer Tim Beiko shares the expected timeline for the Goerli proof-of-stake transition. Also, in a blog post shared alongside the tweet, the team notes that after numerous devnets, shadow forks and merges on deprecated testnets, Goerli and its accompanying Beacon Chain, Prater, are the only remaining testnets to undergo the "Merge." In this case, […]
Understanding BlackRock's Massive BTC Inflows and Their Impact
Understanding BlackRock's Massive BTC Inflows and Their Impact Bitcoin’s relationship with institutional investors has marked one of the most transformative trends in the financial world over recent years. Among the front-runners of this institutional wave is the investment giant BlackRock, which recently recorded a significant milestone with its spot Bitcoin Exchange Traded Fund (ETF), known […]