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
Tether Launches Stable British Pound Sterling GBPt
Utoday: Tether announced plans to launch a stablecoin pegged to the British Pound Sterling, GBPt. Initially, the GBPt stablecoin, as always, will be available on the Ethereum blockchain. The coin will be released as early as next month, in July. After its launch, GBPt will join the Tether storefront, which already features such coins tied to such […]
Understanding AAVE Buybacks and Their Potential Impact
Understanding AAVE Buybacks and Their Potential Impact The world of decentralized finance (DeFi) continues to evolve, with Aave leading innovative financial structures. An exciting development that has caught the attention of investors and enthusiasts alike is the announcement of AAVE buybacks starting on April 9th. This strategic move is aimed at enhancing the tokenomics of […]
Binance's Strategic Expansion: Hiring 1,000 Amidst Compliance Overhaul
Introduction In a move that underscores its commitment to regulatory compliance and operational growth, Binance, the world’s largest cryptocurrency exchange by trading volume, announced plans to bolster its workforce by hiring 1,000 new employees. This decision comes as the company’s spending on compliance measures surpasses $200 million annually, highlighting the increasing importance of regulatory adherence […]