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Celsius' actual debt is $2.85 billion, about a $1.2 billion deficit



Time:8/16/2022 12:29:08 PM

[Celsius’ actual debt is $2.85 billion, a deficit of about $1.2 billion] Jinse Finance reported that a new bankruptcy report filed on Sunday showed that the troubled cryptocurrency lender Celsius had an actual debt of $2.85 billion, while They claimed a $1.2 billion deficit in their bankruptcy filing.

The latest report shows that the company has net liabilities worth $6.6 billion and total assets under management of $3.8 billion. And in their bankruptcy filing, the company showed about $4.3 billion in assets and $5.5 billion in liabilities, or a $1.2 billion deficit.

The report also stated that out of the 100,669 bitcoin ( BTC ) deposited by investors, the company lost 62,853 bitcoins and currently holds only 37,926 bitcoins. Wrapped Bitcoin (WBTC) currently accounts for 64% of the company’s BTC debt.

Earlier news, the company filed for bankruptcy protection on July 14.

Other news:

Celsius Network Escrow Clients Appoint Lawyers to Claim USD 180 Million: Jinse Finance reports that clients of the bankrupt trading and lending company Celsius Network (Celsius Network) who have escrow cryptocurrency accounts have joined forces to hire legal counsel. The assets of these escrow claimants are about 1.8 billion, accounting for only 4% of Celsius’s total assets locked. They are enlisting the help of Kyle J. Ortiz, a partner at corporate restructuring firm Togut, Segal & Segal LLP. In the weeks since the first bankruptcy hearing, the ad hoc panel has grown to more than 300 members and raised nearly $100,000 in legal fees. (coindesk) [2022/8/2 2:52:11]

Optics smart contract V1 is officially deployed in Celo, Ethereum, and Polygon: On September 14th, the open source payment network Celo launched the cross-chain communication interoperability mechanism Optics smart contract V1 was officially deployed in Celo, Ethereum, and Polygon. Optics uses the optimistic bridge mechanism to Enables cheaper communication between chains while still maintaining decentralization. Users can already interact directly with the contract to send ERC-20 tokens between the above 3 chains. Optics includes a 3 hour dispute window to detect any fraud, so it will take about 3 hours + any confirmation time on the main chain to see the funds settle on the target chain.

According to previous news, Optics, a cross-chain communication mechanism launched by the open source payment network Celo, has been deployed in some testnets. [2021/9/14 23:23:41]

News | Celsius to Offer Up to 12% Annual Interest on USDT Deposits: The Celsius Network has announced a new partnership with stablecoin creator Tether that will offer up to 12% annual interest on USDT deposits. Users can now deposit USDT directly into Celsius Wallet and start earning interest, which is paid out on a weekly basis. Users can choose crypto assets that earn interest, including Bitcoin. (CryptoGlobe) [2019/10/24]

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