Celsius fully repays its debt to Maker protocol
The platform returned its loan pledge of 21 962,63 wBTC
![Celsius fully repays its debt to Maker protocol](https://storage.getblock.net/source/1/jtLipvAOcTWxWEuiLJ_P_IQtG3O-jI6a.webp)
08.07.2022 - 08:10
409
1 min
0
What’s new? On July 7, Celsius, a DeFi platform for lending and staking cryptocurrencies, repaid its debt to Maker protocol. According to DeFi Explore, Celsius deposited the remaining $41,23 million in MakerDAO (DAI) stablecoins, after which the protocol returned 21 962,63 wrapped bitcoins (wBTC) worth around $459 million that it had deposited as collateral to the platform to close the debt. In total, Celsius has paid Maker $224 million in the past seven days.
Celsius situation. The platform also still has debts to Aave and Compound protocols of $175 million and $100 million, respectively. On June 13, the platform froze customers’ funds to restore liquidity and later hired experts from Citigroup’s investment bank to find new sources of financing and lawyers from Akin Gump to conduct restructuring.
Crypto exchange FTX refused to buy the platform after discovering a $2 billion discrepancy in its balance sheet. However, investment bank Goldman Sachs announced plans to raise a similar amount to buy back Celsius’ assets.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024