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The CEO of “Celsius” reveals a huge financial hole in the company’s balance sheet…Details here

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.

Read:Report: Cardano ranks first in terms of development and commitment over the past year

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.

Read:Bank of America: Bitcoin surge is ‘mother of all bubbles’

We reported on Arab Bitcoin yesterday about the company’s recent and official filing for bankruptcy protection.

Read also:

The number of Saudi investors in cryptocurrency doubled in the last six months

Michael Saylor reveals the true value of Bitcoin amid record inflation


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