Crypto lender CelsiusNetwork reclaimed $440 million of collateral on Thursday after it fully paid off a loan on MakerDAO, one of the largest DeFi platforms in the crypto universe.
21,962 wrapped bitcoins , 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 was recently trading at about $20,400.
"The debt repayment to Maker is a key milestone for Celsius that should give users and other stakeholders some hope that the company can continue to work through its loan book," Alex Tapscott, managing director of investment firm Ninepoint Partners' digital asset division.that the collateral that Celsius freed up"can be sold on centralized exchanges or via over-the-counter to meet creditor demands and customer withdrawals.
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