Celsius CFO: The company may have enough cash to support operations until the end of the year.

[Celsius CFO: The company may have enough cash to support operations until the end of the year] Jinse Finance reported that Celsius Network Chief Financial Officer Chris Ferraro said at a bankruptcy hearing with creditors on Friday that the company may now have enough funds to support its operations. funding until the end of the year. The additional funding comes from a $61 million loan to crypto exchange Bitfinex that is due to mature in the coming weeks, Ferraro said. Additionally, Celsius saved about $20 million in sales and use taxes on the purchase of mining equipment. Ferraro said Celsius had frozen all activity on its retail loans, including not asking customers to pay interest on loans and not liquidating them. And it expects to be cash flow positive by early 2023.

Celsius had previously estimated that it would run out of cash by the end of October, according to court documents filed on Monday by the law firm Kirkland & Ellis, which presided over Celsius's restructuring plan, and court documents earlier this week also showed the company's cash flow was largely negative. .

Other news:

Nexo co-founder: Nexo will not encounter a liquidity crisis similar to Celsius and Voyager Digital: Jinse Finance reported that Nexo co-founder and managing partner Antoni Trenchev said that Nexo will not encounter a liquidity crisis similar to Celsius and Voyager Digital , Nexo is nothing like them, and doesn't have to do any of the same to stay afloat. In addition, Nansen CEO Alex Svanevik provided data showing that the value of assets in several Nexo wallets reached US$838 million (including US$169 million on-chain assets), half of which held ETH, and a quarter held its native NEXO tokens. currency. Separately, Nexo has deposited $579 million worth of Wrapped Bitcoin ( wBTC ) as collateral in MakerDAO vaults and has an outstanding balance of $50 million in DAI. In addition, Antoni Trenchev claimed that Nexo did not use investors' funds to fulfill its customer obligations. [2022/6/29 1:39:18]

CoinTracker completed a $100 million Series A round of financing at a valuation of $1.3 billion, led by Accel: On January 27, the encrypted tax reporting platform CoinTracker announced the completion of a $100 million Series A round of financing at a valuation of $1.3 billion, led by venture capital firm Accel Voted, Coinbase Ventures, Kraken Ventures, IntuitVentures, GeneralCatalyst, InitializedCapital, YCombinatorContinuity and 776Ventures participated. Angel investors including Coinbase board member Gokul Rajaram, former Stripe CEO Claire Hughes Johnson, Affirm, Snapchat investor Jeremy Liew, and Deel CEO Alex Bouaziz also participated in the round.

CoinTracker is an encryption startup that helps users with tax reporting. Its clients and partners include Coinbase and OpenSea. As part of the deal, Accel partner Sagar Sanghvi joined CoinTracker’s board of directors. CoinTracker co-founder and CEO Jon Lerner said the funds will be used to expand its team, enhance its platform, partner with more cryptocurrency exchanges, and expand globally. [2022/1/27 9:17:43]

Celestial product manager David: GameFi will be the highlight of the second half of DeFi: According to Kingdata, at the AMA event held by OEC&Celestial at 20:00 (HKT) on December 2, Celestial product manager David said that GameFi will be the highlight of the second half of DeFi.

At the same time, David said that the latest version of Celestial will be updated first in OEC. Celestial's UI and NFT design bring users a sense of immersion, and the theme of the universe has its own heat at the moment, and it fits the concept of the metaverse best. [2021/12/3 12:47:15]