Celsius Has Now Paid off more than $800 million of debt to DeFi apps

Jul 14,2022
KingData News: Celsius has now paid off more than $800 million of debt to DeFi apps. Celsius has been grappling with insolvency triggered by sharp decline in the price of crypto assets. On 12 June, it froze withdrawals and transfers on its centralized lending service.
On June 13, digital asset lending platform Celsius Network announced that it would suspend all withdrawals, swaps and transfers between accounts due to extreme market conditions. On the same day, Etherscan data showed that Celsius transferred a total of approximately 111,815 ETH to FTX over the last three days. This indicator provides a real-time tracking of Celsius' funding crisis.
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