Celsius Reclaims $172M Collateral From Aave, Compound

Jul 12,2022
KingData News: Celsius Network paid down $95 million of its debt to the Aave and Compound decentralized finance (DeFi) platforms. The maneuver freed up $172 million of collateral that had been locked in the platforms as collateral. After the moves, the firm still owed $140 million to Aave and Compound, reduced from $235 million as of last Friday, according to DeFi data platform Zapper's dashboard. The collateral that Celsius locked up against those loans stood at $680 million, shrinking from $950 million, and should be freed up theoretically if Celsius fully pays off rest of the debt.
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.