Is CEL’s [Celsius] 29% rally enough compensation to repay debts
The heat on Celsius [CEL], the embattled crypto-lending platform, seems to have reduced lately. Interestingly, the wave looks to have spread to its coin CEL. The altcoin was one of the best-performing cryptocurrencies over the last 24 hours of 15 July.
At press time, CEL stood at $0.73, which was an unexpected 29% increase from its close on 14 July. Amid uncertainties and withdrawal halts, CEL went on an unprecedented rally from $0.64 to $1.53 between 19 and 20 June.
Despite the recent price increase, debtsrepayment, and bankruptcy filing, Celsius’ troubles look far from closed. According to reports from the bankruptcy filing, the company owes its users $4.7 billion from its $4.2 billion in assets and $5.5 billion in liabilities.
<p lang=«en» dir=«ltr» xml:lang=«en»>CELSIUS FILING: Total Assets: $4.2b Total Liabilities: $5.5b$600m of which is CEL token, which currently has a market cap of $170m. pic.twitter.com/cVSxcojk32
— Dylan LeClair
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