Celsius Network, the liquidity-strapped crypto lender that filed for bankruptcy protection, has a hole in its balance sheet amounting to $1.2 billion, according to a new court filing from the company’s advisory partner Kirkland & Ellis.
The document, which was filed to the Bankruptcy Court of Southern District of New York, shows that Celsius holds $4.3 billion of assets and $5.5 billion of liabilities. Celsius filed for bankruptcy protection on Wednesday.
A document filed by the firm’s advisor shows Celsius has a deficit of $1.2 billion.
This is a developing story and will be updated.
