In a bankruptcy court filing document, CelsiusNetwork acknowledged this week that its liabilities exceed its assets by $1.2 billion.
Krisztian Sandor is a reporter on the Crypto Explainer+ team. He has written for Forbes and Reuters. He holds BTC and ETH.
Celsius Network, the liquidity-strapped crypto lender that suspended withdrawals has a $1.2 billion hole in its balance sheet, according to a new court filing from the company's advisory partner, Kirkland & Ellis., which was filed to the U.S. Bankruptcy Court of the Southern District of New York, shows that Celsius holds $4.3 billion of assets and $5.5 billion of liabilities. In its list of assets, Celsius claimed it has about $600 million in its CEL token.
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