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
Understanding Coinbase's New Bitcoin Yield Fund
Understanding Coinbase's New Bitcoin Yield Fund Coinbase, one of the leading cryptocurrency exchanges globally, is set to launch a new institutional fund titled the Coinbase Bitcoin Yield Fund. This initiative, set to begin on May 1, aims to offer institutional investors compelling opportunities to gain passive income through their Bitcoin holdings. What is the Coinbase […]
Utoday: EthereumPoW (ETHW) Community Targeted by Twitter Scam
EthereumPoW (ETHW) is the most popular of the post-Merge Ethereum (ETH) hard forks running on the proof-of-work (PoW) consensus. Now scammers are trying to benefit from its increasing popularity. Fake EthereumPoW (ETHW) accounts flooded Twitter According to a statement shared on EthereumPoW (ETHW) social media, a number of fake accounts and websites are impersonating the largest PoW […]
“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 […]