Sources: Apollo Global Management and Fortress Investment Group are each investing ~$50M in competing groups that aim to restart Celsius under new management
Wall Street Journal :
Filing: bankrupt crypto lender Celsius wants to raise $14.4M by selling coupons, which expire six months after purchase, and credits for Bitcoin miner Bitmain
Andrew Asmakov / Decrypt :
Filing: bankrupt crypto lender Celsius wants to raise $14.4M by selling coupons and credits it got from mining company Bitmain
Andrew Asmakov / Decrypt :
Analysis of weekly realized gains and losses of all personal crypto wallets in 2022: UST's collapse caused $20.5B in losses, Celsius and 3AC $33B, and FTX $9B
Allow us to state the obvious: There's been a lot of doom and gloom in conversations around cryptocurrency over the last month.
Bankruptcy filing: Celsius says it expects ~$70M of “proceeds from the repayment of USD denominated loans”, which could help it operate through the end of 2022
The extra cash from loan repayments, previously believed to be in stablecoins, means a much needed boost for the cash-strapped lender.
Filing: Celsius has a $1.19B deficit on its balance sheet, ~$4.3B in assets against $5.5B in liabilities, and lost 35K ether due to StakeHound misplacing keys
Yueqi Yang / Bloomberg :
Celsius' Chapter 11 filing shows that its biggest creditor, to which it owes $81M, is little known fund Pharos, which has staff with links to Sam Bankman-Fried
Among the more than 100,000 creditors of Celsius Network Ltd., the crypto lender that filed for bankruptcy on Wednesday, one entity stands out: Pharos USD Fund SP.
Tether says it had liquidated a loan to Celsius without incurring any losses and that the bitcoin-denominated loan was overcollateralized by about 130%
‘Position Has Been Liquidated With No Losses’ to the Company Anthonia Isichei / CryptoPotato : Tether Liquidated an Overcollateralized Bitcoin Loan From Celsius Without Risk Liam ‘Akiba’ Wright / Cryp...
Tether says it liquidated a loan to Celsius without incurring any losses; the bitcoin-denominated loan to Celsius was overcollateralized about 130%
- Tether says a loan taken by struggling crypto firm Celsius has been liquidated and no losses were suffered.
Blockchain data: Celsius paid down $183M of its debt to DeFi exchange Maker, freeing up 2,000 wrapped bitcoin tokens posted as collateral against the loans
Krisztian Sandor / CoinDesk :