The Vermont filing also explores the role of the CEL token in Celsius’ finances. “If Celsius’ net position in CEL is excluded, its liabilities exceed its assets in all of the Freeze Reports and Preliminary Balance Sheets provided to state regulators,” the filing claims, referencing reports beginning May 2021. Even more broadly, the filing claims that “excluding the Company’s net position in CEL, liabilities would have exceeded its assets since at least Feb. 28, 2019.”
Sen. Lummis: It'll Pay to 'Choose Circle Over Tether' Under U.S. Stablecoin Proposal
Circle Internet Financial would have a distinct advantage over global stablecoin leader Tether under U.S. regulations along the lines being...