Celsius said in its voluntary restructuring filing that Celsius took out a $108 million loan from FTX by staking $403 million in digital assets.
This means that the premise of FTX’s loan to Celsius is that he must repay four times the loan. Additionally, Celsius has a large illiquidity of client funds, with Celsius locking up its $467 million in ether in a new ethereum network that has yet to launch.