Celsius is ‘Deeply Insolvent,’ Alleges Vermont Department of Financial Regulation

Celsius is ‘Deeply Insolvent,’ Alleges Vermont Department of Financial Regulation

Last week, CoinDesk reported that Celsius fully paid off and closed its loan on Maker, one of the largest DeFi lending protocols, and freed up $440 million of collateral pledged against the loan, denominated in wrapped bitcoin (WBTC) tokens. Additionally, on Tuesday, the crypto lender reduced its debt by $95 million on Aave and freed up 410,000 stETH tokens, worth $426 million at the time of publishing, also reported by CoinDesk.

Originally Posted on: https://www.coindesk.com/business/2022/07/12/celsius-is-deeply-insolvent-alleges-vermont-department-of-financial-regulation/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Aoyon Ashraf

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