Celsius CFO did not report an $800 million loss to the court

ChainCatcher news, according to The Block, based on a court ruling's bankruptcy review report, the business model adopted by the bankrupt crypto lending platform Celsius is different from the customer business model in its advertisements. Celsius used customer funds for venture capital investments and concealed the extent to which the company was market-making for its tokens.

According to the report, the business operated by Celsius is riskier than what was stated in the advertisements, and it failed to report hundreds of millions of dollars in losses, while the company's CEO Alex Mashinsky cashed out $68 million. (Source link)