FTX Cancels Deal With Celsius After Looking at Celsius’ Balance Sheet

FTX began talks with Celsius about providing financial support or making an acquisition but decided against proceeding after looking at Celsius’ finances. Celsius had a $2 billion hole in its balance sheet and FTX found the company difficult to deal with.

Celsius has been fighting for survival since freezing all withdrawals on June 12, citing “extreme market conditions.” Clients’ funds have remained stuck ever since. Celsius claimed 1.7 million customers and around $12 billion in assets under management in May.

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