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Embattled cryptocurrency lender Celsius just lately filed for chapter safety
Celsius CEO Alex Mashinsky has admitted that the corporate had a $1.2 billion gap in its steadiness sheet hole, in line with the corporate’s chapter paperwork.
It was beforehand rumored that the large steadiness sheet gap was the explanation why cryptocurrency trade FTX handed on the deal to accumulate Celsius.
The beleaguered crypto lending agency has $4.3 billion value of belongings and $5.5 billion value of liabilities.
The corporate invested an enormous chunk of its prospects’ funds into its personal mining operation via a $750 million credit score line.
Celsius additionally secured a $108 million mortgage from the FTX trade that was collateralized by $403 million value of belongings.
The submitting additionally reveals that the corporate raised solely $600 million in funding in 2021 as an alternative of $750 million.
As reported by U.As we speak, the corporate just lately filed for chapter safety.
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