Celsius Network received back a deposit of more than 450 million USD

Posted 08 July, 2022

The Celsius Network crypto platform received more than 450 million USD after closing a credit line to Maker DAO. A refund of the deposit amount of 21.9 thousand WBTC (wrapped bitcoin) was credited to the company's account.

Celsius has fully repaid its debt to the Maker protocol, according to DeFi Explorer. On July 7, the remaining 41.2 million DAI (a stablecoin pegged to the US dollar exchange rate) were credited to the lender's account.

On July 1, the company began to repay the debt to the Maker protocol. By paying off the debt in installments, Celsius prevented the potential liquidation of its credit position. Blockchain data shows that with the total amount of funds received 1.8 billion USD, the loss of the crypto platform currently amounts to 1 billion USD.

In June, the Celsius platform began to restructure its business by inviting third-party consultants and lawyers. On June 13, the company suspended all withdrawals, swaps and transfers between accounts due to "extreme market conditions."

Previous story

08 July, 2022 09:20

← Elon Musk's Loop Tunnels Have Started Accepting Dogecoin Fare

A new way to pay for Tesla rides on the Las Vegas underground transportation system was introduced after the opening of its fourth station.

Elon Musk's Loop Tunnels Have Started Accepting Dogecoin Fare

Next story

07 July, 2022 09:40

Bitmain has started selling a new miner for Ethereum mining →

The company claims that the cost of the device will pay off in 100 days of operation, it can replace 25 RTX 3080 video cards

Bitmain has started selling a new miner for Ethereum mining
Write a comment
 
Prove you’re not a bot + 19 = 36