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Crypto lender Celsius Network reveals $1.19 billion hole in bankruptcy filing

(Reuters) – Celsius Network listed a $1.19 billion hole in its balance sheet in a Thursday filing in a Manhattan bankruptcy court, a day after the cryptocurrency lender filed for Chapter 11 bankruptcy.

Illustration shows Celsius logo and representation of cryptocurrencies

(Reuters) – Celsius Network listed a $1.19 billion hole in its balance sheet in a Thursday filing in a Manhattan bankruptcy court, a day after the cryptocurrency lender filed for Chapter 11 bankruptcy.

The company also said it had $40 million in claims against Singapore-based Three Arrows Capital, a crypto hedge fund that filed for bankruptcy earlier this month.

(Reporting by Hannah Lang in Washington,; Editing by Chris Reese)

By Reuters

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