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
Bollinger Bands: How to Easily Spot Trading Opportunities
Learn the power of Bollinger Bands to spot trading opportunities with confidence. Learn how to read volatility, momentum, and market psychology for smarter trades.
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 […]
Santander's Exploration into Stablecoins and Retail Cryptocurrency Services
Introduction Santander, a major player in the banking industry, is actively exploring avenues within the digital asset realm, particularly eyeing stablecoin initiatives and broadening access to cryptocurrencies for retail clients. This move reflects a broader trend among European financial institutions, aiming to remain competitive and innovative in the rapidly evolving financial landscape. Exploring the Stablecoin […]