Technology - Crypto: Celsius Discloses $1.19 Billion Deficit in Bankruptcy Filing
Posted: Sat Jul 16, 2022 12:05 am
https://www.bloomberg.com/news/articles ... tcy-filing
Bankrupt cryptocurrency lender Celsius Network Ltd. disclosed more details on its collapse, including that it has a $1.19 billion deficit on its balance sheet.
The platform held about $4.3 billion of assets against $5.5 billion of liabilities as of Wednesday, according to a court filing. It suffered from a series of unexpected losses, including losing 35,000 of Ether tokens due to the misplacement of “keys” by its staking service provider StakeHound.
Bankrupt cryptocurrency lender Celsius Network Ltd. disclosed more details on its collapse, including that it has a $1.19 billion deficit on its balance sheet.
The platform held about $4.3 billion of assets against $5.5 billion of liabilities as of Wednesday, according to a court filing. It suffered from a series of unexpected losses, including losing 35,000 of Ether tokens due to the misplacement of “keys” by its staking service provider StakeHound.