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
Judge Dismisses Consensys Lawsuit Against SEC Regarding MetaMask and Ethereum Claims
A recent legal battle involving Consensys, a prominent blockchain and web3 development company, and the U.S. Securities and Exchange Commission (SEC) has reached a critical juncture. A federal judge in Texas dismissed Consensys' lawsuit against the SEC, which had contested the agency's classification of Ethereum (ETH) as a security and its focus on Consensys’ MetaMask […]
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 […]
JD.com's Global Expansion: Seeking Stablecoin Licenses for Cross-Border Efficiency
Understanding JD.com's Push into the Stablecoin Market In recent years, stablecoins have emerged as a significant development within the financial technology sector. They are cryptocurrencies designed to minimize price volatility by being pegged to a stable asset, often a fiat currency like the US dollar. China’s leading e-commerce company, JD.com, is preparing to make significant […]