Celsius Pays Off Maker Loan, Freeing Up $440M of Collateral

Celsius Pays Off Maker Loan, Freeing Up $440M of Collateral

On-chain data shows that a wallet linked to Celsius repaid the remaining $41.2 million of the loan in DAI, the Maker protocol’s stablecoin. That prompted the Maker protocol to release 21,962 wrapped bitcoin (WBTC), a bitcoin-equivalent token of the Ethereum blockchain, which was pledged as collateral of the loan. That works out to about $448 million, since WBTC is currently trading around $20,400.

Originally Posted on: https://www.coindesk.com/markets/2022/07/07/celsius-pays-off-maker-loan-freeing-up-440m-of-collateral/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Krisztian Sandor

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