Celsius CEO Alex Mashinsky admits the company has a $1.2 billion gap in its balance sheet. According to the company’s bankruptcy documents
Previously, there were rumors that Such a large balance sheet gap That’s why the exchange FTX canceled the deal to acquire Celsius.
Celsius has $4.3 billion in assets and $5.5 billion in liabilities.
Celsius is one of several companies hit hard by the liquidity crisis in the crypto market. and has ceased withdrawals and deposits on June 12, and has hired restructuring experts to advise on the financial situation; andbankruptcy filingon wednesday
Celsius, however, has begun paying off its debt to decentralized financial (DeFi) protocols, including Aave, Compound and Maker, as part of theTreasury Management Planto get their assets deposited as collateral for the loan back
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