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
“DeFi Hub of Polkadot” Suffers Major Hack
Acala, the decentralized hub of the Polkadot network, has suffered a major security breach, which promoted it to pass an urgent vote to pause operations. The project’s team is currently working on investigating and mitigating the issue. The hack was allegedly caused by a bug in the iBTC/AUSD pool. The security vulnerability allowed the attacker […]
Bitcoin Prices Fall Amidst Tether Investigation Reports: What You Need to Know
Bitcoin Prices Fall Amidst Tether Investigation Reports: What You Need to Know In recent weeks, the cryptocurrency market has faced turbulence as reports emerged about a U.S. Department of Justice (DOJ) investigation into Tether. This stablecoin issuer is being scrutinized for potential violations of anti-money laundering and sanctions regulations. The news has sent shockwaves across […]
Understanding Recent US Spot Bitcoin ETF Outflows and Their Implications
Understanding Recent US Spot Bitcoin ETF Outflows and Their Implications An Overview of Spot Bitcoin ETFs Exchange-Traded Funds (ETFs) are popular investment vehicles that track the performance of an index, commodity, or basket of assets, much like a mutual fund, but trade like a stock on an exchange. A spot Bitcoin ETF, specifically, holds actual […]