Celsius Repaying its Debts

13.07.2022 10:14
by Srđan Jovanović
1 min read

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.

Source: https://decrypt.co/104944/celsius-recovers-over-400m-in-staked-ethereum-collateral-from-aave-loan

Author

  • Long-time editor, crypto enthusiast, and all for free trade. Also a social scientist, musician, and a thorough-going liberal. Wrapped up a degree in linguistics, an MA in politics, and a PhD in history. Six postdocs afterwards. Speaks English, Serbian, Czech, and Swedish, communicative in German, Russian, Polish, Italian, Slovak, Norwegian, and even some Mandarin. Cryptocurrencies are the future.

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