Celsius reports $13 million in loans to Alameda Research

Quick Take

  • Crypto lender Celsius revealed it has 3.5 million Serum tokens on FTX as well as $13 million in loans to Alameda Research. 

Troubled crypto lender Celsius reported exposure to the FTX exchange and sister trading firm Alameda Research that both filed for Chapter 11 bankruptcy protection on Friday.

Celsius tweeted “in the interest of transparency” that it held around 3.5 million mostly locked Serum tokens on FTX along with $13 million in loans to Alameda Research it said were under-collateralized.

“Our work to maximize stakeholder value continues as our singular focus,” the company said.

Celsius, a crypto lender that ran an alleged Ponzi-like scheme, filed for Chapter 11 bankruptcy protection in July of this year. In June, FTX had considered a deal with Celsius but walked away after seeing the firm’s finances. Five months later, Binance walked away from an acquisition deal with FTX after reviewing its finances.

Alameda has between $10 billion-$50 billion in assets and $10 billion-$50 billion in liabilities, along with over 100,000 creditors, The Block reported on Nov. 11. 


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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