Celsius Network has repaid partial debts to decentralized finance and lending platforms Aave and Compound respectively, as it continues to tackle the potential insolvency issue.
According to tracker Etherscan, the crypto lender repaid $78.1 million worth of USDC stablecoin to Aave and $35 million worth of stablecoin DAI on the platform Compound.
The Block reported that Celsius also withdrew 6,083 wrapped bitcoin (worth approximately $124 million) from Aave and transferred them to an Ethereum address known to interact with centralized exchanges regularly.
The Block also added that the fund transfer to Aave was made in four transactions. It further reported that the crypto lender has cleared its debt last week on MakerDAO before withdrawing $440 million in wrapped bitcoin.
The crypto firm has started clearing debts to free up its collateral in decentralized-finance applications.
However, the troubled crypto firm still owes $72 million in USDC to Aave and $50 million in DAI to...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...