Financial group EquitiesFirst owes embattled crypto lender Celsius $439 million, according to a Financial Times report.
This follows yesterday’s news that Celsius is filing for Chapter 11 bankruptcy.
EquitiesFirst, an institutional finance firm known for lending cash against stock holdings, owes embattled crypto lender Celsius $439 million., two people familiar with the matter said that the"private lending platform" identified by Celsius CEO Alex Mashinsky in a Chapter 11 bankruptcy filing on Thursday is EquitiesFirst.
The court filing said the relationship between the two firms initially came from deals in which Celsius was the borrower back in 2019. In July 2021, Celsius sought to repay a loan and retrieve collateral but was informed it would be unable to do so. It then became EquitiesFirst that owed Celsius, per the report. While the debt is steadily being paid off, there is still $439 million — made up of 3,765 bitcoin and $361 million in cash — outstanding.
“EquitiesFirst is in ongoing conversation with our client and both parties have agreed to extend our obligations,” an EquitiesFirst spokesperson told the FT. Celsius didn't respond to the report.Last month, Celsius
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