Celsius Repays $183M on DeFi Exchange Maker, Gets Back Collateral, Blockchain Data Shows

The transactions resulted in not only the extinguishment of the debt but the release from Maker of 2,000 wrapped bitcoin that had been posted as collateral, the data shows. Wrapped bitcoin is a token configured for the Ethereum blockchain that represents bitcoin – the largest cryptocurrency and thus one of the most liquid.

“By repaying the debt, Celsius is possibly freeing up collateral that then can be sold on centralized exchanges or via over-the-counter to meet creditor demands and customer withdrawals,” Fundstrat analyst Walter Teng told CoinDesk. “Given that DeFi loans are overcollateralized, it makes sense for them to do this, as the value unlocked from paying back their loans is greater than the value of the loans themselves .”

Celsius representatives didn't immediately return emails requesting comment on the blockchain data or the transactions.The beleaguered crypto lender is scrambling to

Source: Digital Coin News (digitalcoinnews.net)

otisa502 sndr_krisztian Condesk

sndr_krisztian Wondering who started the attack on Celsius, calling for a run on user withdrawals? And then opened 37m CEL short position betting that $CEL would go to zero.. To profit from their attack

sndr_krisztian Insane, that's a huge amount of usdt

sndr_krisztian Fckkk no dump 😢

sndr_krisztian had to try to find negative in what they are doing to push a bit of FUD to be on the safe side

sndr_krisztian Wow! 10X The collateral 😃👍 Things are looking better everyday 🌞 Celsius

sndr_krisztian Don't sit back without doing this forex business because this is the third time I'm earning $10,430 from an investment of $1,200 mining bitcoin with Arthurbrian21

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