Celsius Creditors Move to Subpoena Lending Firm Equities First for $439M Collateral Repayment

Sept 30,2022
KingData News: Creditors of crypto lending firm Celsius have moved to subpoena Equities First. The move comes after Celsius's former CEO Alex Mashinsky declared that the company had borrowed money from Equities First, and when they attempted to repay the loans Equities First was unable to return their collateral. Mashinsky said that Celsius is still owed $439 million from Equities First.
On June 13, digital asset lending platform Celsius Network announced that it would suspend all withdrawals, swaps and transfers between accounts due to extreme market conditions. On the same day, Etherscan data showed that Celsius transferred a total of approximately 111,815 ETH to FTX over the last three days. This indicator provides a real-time tracking of Celsius' funding crisis.