Celsius repays over US$113 mln in debt; recovers US$122 mln in collateral

Celsius Network repaid around US$78 million in USDC to Aave and US$35 million in DAI to Compound on Monday, blockchain data on Etherscan shows. 

See related article: Celsius repays debts, cuts jobs amid bankruptcy fears

Fast facts

• The troubled cryptocurrency lender unlocked at least US$122 million in collateral through its latest set of repayments. 
• Celsius still has outstanding debts worth US$122 million on Aave and Compound, according to data from Zapper.
• Celsius has paid off over US$300 million worth of loans since July 1, blockchain data shows.
• Celsius has cut jobs and hired restructuring experts to tackle its liquidity issues since halting withdrawals on June 13.
• Celsius can unlock around US$654 million in collateral by paying off the remaining debt, according to data from Nansen. 

See related article: Celsius lost over US$350 million in DeFi: report