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Celsius Network has finished paying all its debt

The company specializing in cryptocurrency lending has finished repaying all of its dues on MakerDao.

As a reminder, Celsius Network made these refunds :

  • July 4: $50 and $64 million
  • and July 5: $40.8 million.

This gave us a total of $154.8 million paid on his bitcoin loan at Aave.

Just yesterday, Celsius Network made another refund. This time around, the amount was $41.23 million. And as a result, the price for its liquidation was revised to 0 dollars.

After this transaction, the administrators of Celsius can give themselves a sigh of relief. Indeed, all of its bitcoin debt on MakerDao has been paid.

By coming to terms with the payment of its debt on MakerDao, Celsius benefited from the release of 21,962.63 wrapped bitcoins (WBTC). This represents the amount pledged as collateral for his loan.

On the side of the administrators of Celcius, the end of its debt in Bitcoin on MakerDao can present itself as good news. But for investors deprived of access to their account, appropriate language must be used. Because at this stage, they need solid insurance.