Bankrupt crypto lending giant Celsius Network has revealed in the latest financial report that its debt is set at $2.85 billion, up $1.65 billion from the firm's initial bankruptcy filing.
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According to the document, Celsius Network has net liabilities of $6.6 billion, with $3.8 billion of users' assets under management. Celsius filed for bankruptcy on July 14 after it had paused withdrawals, trading and other services for its clients, citing market conditions.
In August, reports said that Canadian financial regulators, including Quebec’s Autorité des marchés financiers (AMF), were probing Celsius Network's massive collapse as the notorious platform was funded by Quebec's pension manager, the Caisse de dépôt et placement du Québec.
Even though Celsius was not registered in Canada and had no right to offer services in the country, the probes might be complicated due to the fact that the firm earlier filed for bankruptcy and is seeking restructuring options.
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