Cryptocurrencies
Celsius Discloses $1.19 Billion Deficit in Bankruptcy Filing
- Firm may sell assets or consider investment from third party
- CEO says company made some ‘poor’ asset deployment decisions
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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.