This week, in the 2 day period, we brought you three bitcoin debt payments from the troubled Celsius network. On this day, we inform you that the company specializing in cryptocurrency loans has finished repaying its due to MakerDAO.
Celsius is no longer in debt
As a reminder, the Celsius Network made the following refunds:
- July 4: $ 50 and $ 64 million;
- and July 5: $ 40.8 million.
Gave us a total of $ 154.8 million paid for his bitcoin loan at Aave.
Just yesterday, Celsius Network made another refund. This time around, the amount was $ 41.23 million. And as a corollary, the price of its liquidation was revised down to 0 dollars.
After this transaction, Celsius administrators can give themselves a sigh of relief. In fact, all of his bitcoin debt on MakerDAO has been paid off.
Celsius Network gets its $ 459 million back
By agreeing to pay off its debt to MakerDAO, Celsius took advantage of the release of 21,962.63 return bitcoins (WBTC). This represents what has been pledged as collateral for his loan.
Is this the beginning of the outcome of the Celsius case? In any case, result or not, his clients are furious about the lack of access to their funds held on the platform. As an explanation, the Mashinsky team cites the » market extremes “.
On the part of Celsius administrators, ending its debt in bitcoin on MakerDAO can present itself as good news. But for investors who do not have access to their account, appropriate language must be used. Because they need solid insurance at this stage.
Get a summary of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss any of the essential Cointribune!
The blockchain and crypto revolution is underway! And on the day when the impacts on the most vulnerable economy in this World are felt, against all odds, I will say that I was involved.