Celsius Has Paid $143 Million In Debt Since The Start Of Q3

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Crypto lending platform, Celsius, has repaid a substantial amount of its outstanding debt to Maker (MKR) protocol since the start of July, signalling that the platform is doing all it can to stave off a complete collapse amid credible rumours of insolvency.

Since July 1, Celsius has repaid $142.8 million worth of Dai (DAI) stablecoins, a stablecoin pegged to the U.S. Dollar, across four separate transactions, according to data from DeFi Explorer.

The crypto lender still has $82 million in outstanding debt owed to Maker. Out of $1.8 billion in lifetime investments, the firm’s losses currently stand at $667.2 million, down approximately 63%.

With the loan repayments, Celsius’ liquidation price on its Bitcoin loan has dropped to $4,966.99 per Bitcoin (BTC). The liquidation price reportedly fell by nearly half since Celsius posted a $64 million DAI payment on July 4, hours after reports that the platform had paid $50 million in DA

-Nairametrics

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