Celsius Is $1.2 Billion Short of Loan Repayments
Crypto lending platform Celsius Network reported that its liabilities to customers and creditors exceed the amount on its balance sheet by almost $1.2 billion.
As of July 13, Celsius Network held $4.3 billion in assets, according to documents released by the company. And its obligations to customers and creditors amounted to 5.5 billion dollars.
According to Celsius, about $600 million is stored in CEL tokens. As of July 12, the total market capitalisation of the token was approximately $170.3 million.
The company’s largest unsecured creditor is Pharos USD Fund SP.
According to Bloomberg, the company is linked to Lantern Ventures, which is related to Sam Bankman-Freed’s venture capital firm Alameda Research.
Alameda was also mentioned in the Celsius documents as a company owed almost $12.8 million by the crypto lending platform.