The CEO of “Celsius” reveals a huge financial hole in the company’s balance sheet…Details here
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Answer The CEO of “Celsius” reveals a huge financial hole in the company’s balance sheet…Details here
Celsius CEO Alex Mashinsky admitted that the company has a balance sheet gap of $1.2 billion, according to the company. for documents Company bankruptcy.
Previously, it was rumored that a huge gap in the balance sheet was the reason why cryptocurrency exchange FTX was overtaken by the acquisition of Celsius.
Cryptocurrency lender Celsius, which has become a beleaguered company, runs $4.3 billion in assets and $5.5 billion in liabilities.
The company has invested a significant portion of its clients’ money in its mining operations with a line of credit of $750 million.
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Celsius also obtained a $108 million loan from FTX that was secured by $403 million in assets.
The bankruptcy documents also show that the company raised just $600 million in 2021 instead of $750 million.
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We reported on Arab Bitcoin yesterday about the company’s recent and official filing for bankruptcy protection.
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