Celsius Discloses $1.19 Billion Deficit in Bankruptcy Filing

Bankrupt cryptocurrency lender Celsius Network Ltd. disclosed more details on its collapse, including that it has a $1.19 billion deficit on its balance sheet.

The platform held about $4.3 billion of assets against $5.5 billion of liabilities as of Wednesday, according to a court filing. It suffered from a series of unexpected losses, including losing 35,000 of Ether tokens due to the misplacement of “keys” by its staking service provider StakeHound.