Celsius is owed $12M by Alameda Research

2022/11/16 00:27

According to Coindesk, bankrupt crypto lender Celsius Network told the court Tuesday it had $12 million in outstanding loans to Alameda Research. That money – part of which is represented in locked SRM tokens held as collateral – is now likely wrapped up in Alameda’s own bankruptcy proceedings, adding another obstacle for Celsius’ creditors. Celsius’ new CEO Chris Ferraro said the company used to have much more at risk. In January 2020, for example, Celsius had $3.6 billion in total exposure to FTX Group. But it whittled down its exposure to $354 million immediately prior to its own bankruptcy filing earlier this year. Ferraro also said Celsius is generating a “moderate amount of top-line revenue” across staking deployments and its mining business.

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