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.

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.

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