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News

Celsius Revealed It Has 3.5 Million Serum Tokens On FTX

November 12, 2022 - Around 1 mins mins to read
Crypto lender Celsius reported exposure to the FTX exchange after the collapse of the Sam Bankman-Fried empire worsened.
Celsius Revealed It Has 3.5 Million Serum Tokens On FTX

In a tweet, the crypto lender stated that it had about 3.5 million Serum tokens (SRM), the majority of which were locked in FTX contracts. Additionally, it revealed that it has undercollateralized loans totaling $13 million to Alameda Research that are secured by the FTT token.

When FTX saw Celsius’s financial situation in June, it abandoned its consideration of a deal.

In July of this year, Celsius, a cryptocurrency lender accused of operating a Ponzi-like scheme, filed for Chapter 11 bankruptcy protection.

The same situation is currently happening with FTX but to a greater extent and has consequences for the current crypto market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

CEL

Celsius

FTT

FTX

Sam Bankman-Fried

SRM

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Celsius Revealed It Has 3.5 Million Serum Tokens On FTX

Crypto lender Celsius reported exposure to the FTX exchange after the collapse of the Sam Bankman-Fried empire worsened.
Celsius Revealed It Has 3.5 Million Serum Tokens On FTX

In a tweet, the crypto lender stated that it had about 3.5 million Serum tokens (SRM), the majority of which were locked in FTX contracts. Additionally, it revealed that it has undercollateralized loans totaling $13 million to Alameda Research that are secured by the FTT token.

When FTX saw Celsius’s financial situation in June, it abandoned its consideration of a deal.

In July of this year, Celsius, a cryptocurrency lender accused of operating a Ponzi-like scheme, filed for Chapter 11 bankruptcy protection.

The same situation is currently happening with FTX but to a greater extent and has consequences for the current crypto market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News