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 документа о стечају.
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.
The company invested a big chunk of its customers’ funds into its own mining operation through a $750 million credit line.
Celsius also secured a $108 million loan from the FTX exchange that was collateralized by $403 million worth of assets.
The filing also shows that the company raised only $600 million in funding in 2021 instead of $750 million.
As извештава У.Тодаи, the company recently filed for bankruptcy protection.
Source: https://u.today/celsius-has-12-billion-hole-in-balance-sheet-ceo-reveals