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
Polygon Network (MATIC) TVL Surpassed by This Ethereum L2
Second-layer solutions on top of the Ethereum (ETH) network become increasingly popular in 2022; L2 majors Optimism and Arbitrum are hosting over 160 protocols combined. Optimism (OP) now exceeds Polygon (MATIC) by this crucial metric Optimism (OP), a largest rollup-based second-layer scaling solution for the Ethereum (ETH) network, has accomplished yet another milestone in terms of […]
Understanding the SEC's Charges Against Galois Capital: A Deep Dive into Custody Failures
Understanding the SEC's Charges Against Galois Capital: A Deep Dive into Custody Failures The U.S. Securities and Exchange Commission (SEC) has recently charged and settled with Galois Capital, a crypto-focused investment advisory firm, due to significant custody and disclosure failures. This development underscores the critical importance of regulatory compliance in the rapidly evolving cryptocurrency industry. […]
PwC Account Hacked to Promote XRP Scam
The official Twitter account of PricewaterhouseCoopers (PwC) Venezuela has been hacked in order to promote an XRP scam. It is advertising “a big event” with Ripple CEO Brad Garlinghouse that is supposed to take place an hour from now. Its tweet encloses a link that is supposed to bait potential victims into sending their crypto. […]