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 to Expand Its E*Trade Platform with Cryptocurrency Trading
Morgan Stanley to Expand Its E*Trade Platform with Cryptocurrency Trading In a significant move within the banking industry, Morgan Stanley is reportedly planning to offer cryptocurrency trading to clients on its E*Trade platform. This initiative is set to make Morgan Stanley one of the few major banks to provide retail investors with direct access to […]
Changpeng Zhao's Release from Custody: What Lies Ahead for the Binance Founder?
Changpeng Zhao's Release from Custody: What Lies Ahead for the Binance Founder? Changpeng Zhao, commonly known as "CZ," the founder of Binance, recently walked out of a California prison as a free man. This release marks a significant moment for the crypto industry, long fascinated by Zhao's monumental successes and subsequent legal challenges. While his […]
What is Base Chain? A Beginner's Guide to Coinbase's L2 Network
What is Base Chain? A Beginner's Guide to Coinbase's L2 Network Base Chain is Coinbase's Layer 2 (L2) network built on Ethereum. It aims to provide a secure, low-cost, and developer-friendly environment for building decentralized applications (dApps) on-chain. In this beginner's guide, we'll explore the features, benefits, and how Base Chain differs from other Layer […]


