Celsius: Seeking Strategic Deal and Restructuring Debt

Jul 01,2022
KingData News: According to the official Celsius update, the team says we are focused and working as quickly as we can to stabilize liquidity and operations. "We continue to take important steps to preserve and protect assets and explore options available to us. These options include pursuing strategic transactions as well as a restructuring of our liabilities, among other avenues. " In previous news, FTX began talks with Celsius about providing financial support or making an acquisition but decided against proceeding after looking at Celsius's finances, , according to a report by The Block. Celsius had a $2 billion hole in its balance sheet and FTX found the company difficult to deal with, one of the sources said.
On June 13, digital asset lending platform Celsius Network announced that it would suspend all withdrawals, swaps and transfers between accounts due to extreme market conditions. On the same day, Etherscan data showed that Celsius transferred a total of approximately 111,815 ETH to FTX over the last three days. This indicator provides a real-time tracking of Celsius' funding crisis.
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