Celsius Creditors Subpoena Equities First Regarding $439M

Celsius Creditors Subpoena Equities First Regarding $439M

• Celsius creditors subpoena Equities First.
• Celsius’ former CEO shared that Equities First owes Celsius $439 million.
• In related news, the price of CEL is trading at $1.45.

Creditors of Celsius, the crypto lending platform, have recently submitted a subpoena to Equities First, a lending firm that has been entangled in the Celsius bankruptcy.

This move by Celsius creditors comes after Alex Mashinsky, the former CEO of the crypto lending firm, declared that the company had borrowed money from Equities First and that Equities First was unable to return their collateral as they attempted to repay their loans. According to Mashinsky, Celsius is still owed $439 million by Equities First.

Creditors have come forward seeking information regarding the loan agreements between Celsius and Equities First, any transfer of funds between Celsius and the lender, and the reasoning behind Equities First’s inability to pay back the $439 million collateral to Celsius.

In related news, on Thursday Texas state agencies raised objections to Celsius’ proposed plan to sell off its stablecoin holdings. This stablecoin sale is scheduled for a hearing in New York on October 6, 2022.

It was also recently reported that Sam Bankman-Fried, FTX’s CEO, could place a bid for the bankrupt crypto bank’s assets.

The price of Celsius’ native token, CEL, is trading at $1.45 at the time of writing after a slight 0.13% increase in price, according to CoinMarketCap. CEL was able to print a daily high of $1.48 and a 24-hour low of $1.43.

Trading volume for CEL has also slipped 37.05% over the last 24 hours, taking the total trade volume to $5,517,636.

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