Celsius Bankruptcy Filing Reveals $1.2 Billion Of Bad Deals

Celsius Bankruptcy filing reveals bad deals worth $1.2 billion.

The recent documents submitted in the Court for the Southern District of New York revealed a list of bad deals that led the firm to bankruptcy.

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These deals resulted in a loss of $1.2 billion for Celsius.

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Celsius brought $750m worth of rigs, $840m Debt from Tether was liquidated, loss 38,000 ETH from staking service provider, lent to 3AC and the anonymous borrower loses $400 million in collateral.

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FTX dropped that plan of acquiring Celsius after discovering a $2 billion gap in its balance sheet.

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Celsius currently has 80,850 mining rigs, with 43,632 in operation most of which were purchased in 2021.

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The prices of these rigs have dropped by more than 50%.

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Wassielawyer stated that Celsius made a series of crap trades and essentially blamed price slump and bad press for their current predicament.

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