Citing Selcius’s restructuring application data, British Financial Times reporter Kazim Schuber said, “Celcius took out a loan of $108 million from FTX with cryptocurrency worth $403 million as collateral.”

In addition, Celcius was found to be staking ETH worth $467 million in Ethereum 2.0, which the reporter pointed out was “another customer fund lacking liquidity.” In addition, according to the data, Celcius was confirmed to have lost $15.8 million due to the Terra/Luna incident.

Celcius Loses $94 Million in Tether Collateral Settlement

Citing a report released by Kirkland & Ellis LLP, Selcius’ advisory partner, U blockchain reported that “Selcius borrowed $841 million from Tether, the world’s largest dollar-linked stablecoin, but lost $94 million as he failed to repay the loan.”

According to Coindesk, Kirkland & Ellis LLP, Selcius’s advisory partner, released a report and said that there was a hole worth about $1.2 billion in the Selcius network balance sheet. According to documents filed with the Bankruptcy Court in southern New York, Celcius holds $4.3 billion in assets and $5.5 billion in debt.

Earlier, the cryptocurrency exchange FTX considered funding or acquisition of Celcius, but it was reported that it gave up after checking the financial status of Selcius. At the time, the source explained, “FTX saw that there was a $2 billion hole in Selcius’ balance sheet, so it was difficult to solve it.”

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