Celsius Network reveals plans to compensate depositors despite massive $1.19 billion balance sheet deficit
In a United States Bankruptcy Court Southern District of New York filing, the platform says it has total assets of $4.3 billion and total liabilities amounting to $5.5 billion.
Celsius Network, which recently filed for bankruptcy, says one of the ways it could fill the $1.19 billion hole in its balance sheet is by selling minted Bitcoin (BTC) from its mining business. Celsius Network says that it could sell some of its assets or seek a strategic investor as part of the reorganization.