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Bad crypto news: Here comes the disastrous report from Celsius (CEL)!

Like any good investor or blockchain enthusiast, you should be aware of the sharp decline that has been happening since the end of 2021. However, in the last few weeks, the crypto market has taken on some color to the delight of various investors.

In effect, Ethereum fell from around $1000 to $1890 at the time of writing, in just a few weeks.

The same applies to the first cryptocurrency on the market, bitcoin (BTC) from approx $20,000 to $23,900 also in a few weeks.

So, even if the first two cryptocurrencies in the market are currently performing well, this is not the case for all blockchain-related projects. Indeed, recently Project Celsius (CEL) report is disastrouslet’s see why together in this blog post!

Here’s the disastrous report on Celsius (CEL)

As explained earlier, the Celzius Project (CEL) report that came out recently shows the company’s deficit with more than 2.8 billion dollars.

This astronomical sum is divided among several cryptocurrencies, in fact it is divided between them Bitcoin (BTC), Ethereum (ETH), USD (USDC), Celsius (CEL) and other tokens. Below is the displeasure of some Reddit users:

“Just a terrible read, I just want to end it at this point and move on,” one user wrote, adding that “the level of mismanagement is staggering […]. Others questioned whether there was any point in restructuring the company, saying it should simply be liquidated as soon as possible so “everyone can move on”. »

Read also Ethereum Founder Warns of Multi-Million Dollar ‘Monkey Designs’

A situation to watch closely, how will this top 100 project manage with such a large deficit?

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