Celsius Network Reveals Plans To Compensate Depositors Despite Massive $1,190,000,000 Balance Sheet Deficit

Centralized finance (CeFi) platform Celsius Network is revealing plans to compensate users whose funds are still unavailable for withdrawal. 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. “To bridge this gap in its balance sheet, the Company plans to engage with all constituencies, including the official committee