Celsius, the well-known lender, got back 400,000 Staked Ethereum (stETH) from a loan on Aave. This is $415 million worth of crypto. Celsius then paid $81.6 million worth of USDC to Aave, clearing most of its previous $90 million debt.
This news comes after Celsius repaid its Maker loan last week in total. Celsius then recovered more than 23,000 WBTC, or around $440 million.
Since Monday, Celsius returned a total of $95 million to loans across Aave and Compound. This means that the crypto lender’s total debt is now significantly lower, amounting to $59 million. Apart from the $8.5 million still owed to Aave, Celsius has a $50.3 million debt on Compound.
However, it is unknown how Celsius acquired the funds needed to repay the debt. Moreover, a Coindesk report states that FTX CEO, Sam Bankman-Fried, decided against assisting Celsius in June, as he deemed it beyond rescue.