Celsius returns another $63 million to Maker protocol

The platform paid off part of its debt in native stablecoins DAI and wrapped bitcoins

06.07.2022 - 09:45

344

1 min

What’s new? On July 5, Celsius, a DeFi platform for lending and staking cryptocurrencies, repaid another $63 million to Maker protocol (DAI). The company paid part of the debt in native stablecoins DAI, as well as in 2000 wrapped bitcoins (wBTC). The liquidation value of wBTC is now at $2722. Celsius paid back a total of $183 million since June 1, with the remaining debt to Maker at $41 million. Celsius also owes $175 million and $100 million to Aave and Compound, respectively.

DeFiExplore’s data

Celsius situation. On June 13, the platform froze customers’ funds to restore liquidity. The company later hired experts from Citigroup’s investment bank to find new sources of financing and lawyers from Akin Gump to conduct restructuring.

The FTX exchange refused to buy Celsius after finding a $2 billion discrepancy in its balance sheet. However, investment bank Goldman Sachs announced plans to raise a similar amount to buy back the platform’s assets.

Author: