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
South Korea's National Pension Fund's Bold Move into MicroStrategy: A $33.7 Million Investment
Overview of South Korea's National Pension Fund Investment In the second quarter of 2024, South Korea's National Pension Fund made a noteworthy investment by purchasing $33.7 million worth of MicroStrategy shares. This strategic move underscores the fund's increasing interest in diversifying its portfolio through indirect exposure to Bitcoin. MicroStrategy, led by Michael Saylor, has positioned […]
Almost $6 B Lost by Cryptocurrency Investment Funds Like 3AC, Celsius and Others
Cryptocurrency investment funds lost almost $6 billion worth of Bitcoin following the massive liquidation series on the cryptocurrency market back in the May-June period. The biggest loser on the market is, as expected, the Luna Foundation Guard. The largest portion of the coins that were lost is tied to the series of large liquidations that appeared […]
Understanding Grayscale's Launch of Aave Trust: A Deep Dive into DeFi Innovations
Understanding Grayscale's Launch of Aave Trust: A Deep Dive into DeFi Innovations The financial landscape is continually evolving, with cryptocurrency at the helm of modern innovation. The recent introduction of the Grayscale Aave Trust marks another stride in the realm of decentralized finance (DeFi), attracting attention from investors and industry observers alike. But what does […]