The platform is in a worse financial position than previously expected.
Celsius Network’s latest court filings depicted a grim forecast for the crippled crypto lender. The documents revealed that the actual debt currently stands at $2.85 billion, as against their bankruptcy filing claims of a $1.2 billion deficit.with the United States Bankruptcy Court of the Southern District of New York. By then, Celsius would hit negative liquidity of approximately $34 million.
Sources familiar to FT claimed that Mashinsky was concerned about a potential downfall in crypto prices if the Fed hiked interest rates.
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