Celsius Report Shows $2.8 Billion in Crypto Liabilities

Projections from law firm Kirkland & Ellis filed yesterday show the lender could run out of funds by October. It still has about $130 million in cash balance as of August. With all current operating, capital and restructuring expenditures, Kirkland & Ellis projects the firm will be nearly $40 million in the red by the close of October. The firm also owes depositors $2.8 billion more in crypto than it's currently holding.