The liabilities of the cryptolending platform Celsius Network exceed its assets by $2.85 billion, according to the updatedassessment dated August 14.
The first figure is $6.67 billion, the second is$3.83 billion. Of the total 100,669 BTC trusted by investors, the company lost 62,853 BTC. The “wrapped” version of the cryptocurrency forms almost two-thirds of the total debt.
On July 15, the company reported that the capital shortfall did not exceed $1.2 billion.
The published information threatens with additionalproblems for the Celsius Network. The data is able to confirm concerns that the management of the platform could deliberately mislead creditors and provide incorrect information to the court.
On July 13, Celsius filed for Chapter 11 bankruptcy in a New York court.
On July 19, the company presented a reorganization planbusiness. It involves the direction of profits of a subsidiary mining company to compensate for losses to users and payments to creditors. Prior to this, Celsius Mining filed an IPO with the SEC.
On August 12, it became known that the committee of creditors of Celsius Network, during a meeting of the bankruptcy court, achieved a ban on the company from selling part of the mined bitcoins.
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Celsius presented a plan for the reorganization of the company. Lenders will be paid from the profit of the mining "daughter"