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
Morgan Stanley and Goldman Sachs' Significant Investments in Bitcoin ETFs
Morgan Stanley and Goldman Sachs' Significant Investments in Bitcoin ETFs In recent developments in the financial world, two leading asset managers, Morgan Stanley and Goldman Sachs, have made noteworthy disclosures concerning their investments in Bitcoin exchange-traded funds (ETFs). This move highlights a growing acceptance of Bitcoin and blockchain technology in traditional financial markets. An Overview […]
Exploring Rostec's Plans for a Ruble-Pegged Stablecoin on the Tron Network
In a significant development in the realm of digital currencies, Russian state-owned giant Rostec has announced plans to launch a ruble-pegged stablecoin, RUBx, on the Tron blockchain network. This move is aligned with the growing momentum in Russia towards adopting blockchain technology and digital currencies. In this article, we delve into what this development entails […]
German Government Transfers $172M in Bitcoin to Multiple Locations
German Government Transfers $172M in Bitcoin to Multiple Locations In a significant move, the German government has transferred 3,000 Bitcoins (BTC) worth over $172 million to multiple locations. This strategic transfer could potentially impact the cryptocurrency market significantly. The Transfer Details According to blockchain investigators, the German government labeled wallet transferred 1,300 BTC to major […]