Celsijaus bankroto byla kaltina milijardų dolerių skylę dėl spartaus augimo ir blogų lažybų

Celsijaus tinklas turi filed for Chapter 11 bankruptcy protection in the Southern District of New York, and in the process lifted the lid on a mammoth $1.2 billion hole in its finances.

Pagal sąrašas, which names creditors like Sam Bankman-Fried’s Alameda Research, Pharos USD Fund SP, ICB Solutions, Invictus Capital, and Crypto10 SP, the company boasted $4.3 billion in assets but liabilities of $5.5bn.

These losses, reikalavimai Celsius CEO Alex Mashinsky, are due to a combination of “unanticipated losses” and poor investments.

Specifically, the filing points to the company’s early success, which saw the number of digital assets on the platform grow faster than it was prepared to deploy. This led to what the filing calls “certain poor asset deployment decisions“ (mūsų pabrėžimas).

These left Celsius with “disproportional liabilities when measured against the unprecedented market declines.”

Šios padavimas lists assets and liabilities in a broad range from 1–10 mlrd. USD and Mashinsky has vadinamas the move necessary to stabilize the company. A press release rodo that Celsius has enough cash to support limited operations while it restructures.

Mashinsky once owned šimtai milijonų dolerių worth of Celsius’ ICO token, CEL but today the price of CEL is down -91% from its peak.

Padavimas taip pat sąrašai Celsius Network subsidiaries such as Celsius KeyFi LLC, Celsius US Holding LLC, and Celsius Mining LLC as debtors.

KeyFi, also known as Battlestar Capital, was Jason Stone’s fund that lost 350 milijonų JAV dolerių of Celsius’ money. From 2020 through June 2022, Stone operated anonymously as 0x_b1 and his fund was once the third-wealthiest in DeFi, outranked only by Sam Bankman-Fried and Justin Sun.

Amusingly, Stone’s KeyFi is now Kaltinamasis Celsijaus.

Plačiau paskaitykite čia: Celsijaus įtakojantys asmenys stumia abejotiną „CEL short squeeze“ strategiją

Celsius reneges on ‘unbank yourself’ slogan, hires a bank for bankruptcy

The company originally hired bankers at Citibank to help with its restructuring.

This has raised a few eyebrows, given Celsius’ history of stridently anti-bank marketing. This has included its “Unbank yourself” and “Banks are not your friends” slogans, not to mention hours of video recordings criticizing bankers.

Plačiau paskaitykite čia: Išsami Celsijaus santykių su Terra LUNA ir Tether laiko juosta

Soon, Celsius let Citi go and pasamdytas Kirkland & Ellis LLP to serve as legal counsel, Alvarez & Marsal for restructuring advisement, and Centerview Partners as its financial advisor during the bankruptcy process.

Customers told to wait while Celsius prioritizes paying off DeFi first

Celsius Network redeemed assets used as collateral by aggressively paying off loans. It has already grąžinta 900 milijonų JAV dolerių to decentralized finance protocols Aave, Compound, and MakerDAO. It could reclaim a higher value in assets since DeFi apps often require borrowers to put up assets of larger value than the loan amount as collateral.

This move sparked a debate regarding which creditors said Celsius Network should repay them first in the event of a bankruptcy.

It also managed to traukti 535 milijonų dolerių turtas out of Terra LUNA’s Anchor Protocol before it disintegrated.

The value of deposits on Celsius Network’s platform pasiekė piką at more than $20 billion in June 2022. The company frequently lent the deposits to institutions and teigė, more than 100 institutional clients in September 2019.

Celsius’ withdrawal freeze has traukia the attention of California’s Department of Financial Protection and Innovation with the agency investigating whether Celsius made required disclosures to customers about the risks involved with depositing assets.

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