BnkToTheFuture proposes 3 methods to solve Celsius Network's liquidity issues

BnkToTheFuture, one of Celsius Network‘s leading investors, has submitted three proposals that could help solve the firm's liquidity issues and save it from bankruptcy. The post BnkToTheFuture proposes 3 methods to solve Celsius Network's liquidity issues appeared first on CryptoSlate.

Timeline of Celsius

CryptoSlate spoke to Simon Jones, CEO of Voltz, an interest rate swap DeFi protocol that aims to create “capital-efficient” within DeFi. The post How Celsius, 3AC misjudged risk and is DeFi's future in interest rate swaps?

Celsius, the disaster-stricken cryptocurrency lender, has assured its community that it was exploring all the options available to stabilize liquidity and operations. What Happened: In a blog post on June 30, Celsius said that it was exploring options like pursuing strategic transactions and restructuring its liabilities.

FTX rejected the deal to bail out or buy crypto lending firm Celsius. FTX decided to shut down the negotiations and walked away after it found out a "$2 billion hole" in Celsius' balance sheet.

Recent reports indicate that FTX walked away from a deal to save Celsius after looking deeply into the state of the latter's financial record. However, FTX is already finalizing a deal to buy BlockFi for $25 Million.

Cryptocurrency exchange operator FTX was contemplating a deal to bail out troubled Celsius but ultimately walked away because the crypto lender's balance sheet added up to a “$2 billion hole,” The Block reported on Thursday (June 30), citing unnamed sources with insider information. FTX had started discussions with Celsius about providing money or acquiring the

FTX has walked away from a deal to acquire Celsius after reviewing its balance sheet and finding a “$2 billion hole,” according to a June 30 report by The Block. The post FTX discarded Celsius deal after reportedly finding $2B missing from its balance sheet appeared first on CryptoSlate.

Celsius finally broke its silence with a June 30 blog post stating that it is “working as quickly as we can to stabilize liquidity and operations.” Behind the scenes, it claims that actions are being made to “take important steps to preserve and protect assets and explore options available to us.

FTX reportedly walked away from a potential deal with Celsius Network after analyzing the latter's finances. Celsius Network allegedly had a $2 billion deficit on its balance sheet at the time of the talks with FTX.

FTX CEO Sam Bankman-Fried is taking a bullish stance amid the “great depression” of cryptocurrency. Instead of joining the list of peers hedging losses by slashing workforces by upwards of 20%, FTX is on a mergers and acquisitions tear, acquiring three firms this year alone.

Twitter's members of the crypto community have been left bewildered by the beleaguered Celsius Network despite pausing withdrawals two weeks ago, and are still continuing to pay weekly rewards. Crypto lending platform Celsius reported previously that it  paused withdrawals on June 13 after a report that stated extreme market conditions with the current bearish market....