Celsius Update: Hard Facts at bottom (my rough calc) (Patreon)

Published:

2022-06-30 15:18:19

Imported:

2022-08

Content

From the Block Crypto - allegedly SBF from FTX began talks with Celsius about providing financial support or making an acquisition but decided against proceeding after looking at Celsius's finances, the sources said. Celsius had a $2 billion hole in its balance sheet and FTX found the company difficult to deal with, one of the sources said.

Celsius claimed 1.7 million customers and around $12 billion in assets under management in May.

Celsius raised $750M laste 2021.

The Bad News or Good News depending how you look at it as some believe all is lost.

12BN in Assets in May 2BN hole between STETH and maybe other losses (some on paper some not realized). Less investor amt 750M. Less market drawdown - the hard truth is 20 to 35% could be lost after paying off investors.

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FTX walked away from a deal with Celsius after seeing state of its finances

FTX looked at making a deal with troubled crypto lender Celsius but ultimately walked away from it, sources tell The Block.