By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CoinworldstoryCoinworldstoryCoinworldstory
  • HOME
  • CRYPTO
    • AI
    • BOTS
    • ICO
    • AIRDROP
      • Featured Airdrops
    • Price Prediction
    • EXCHANGE
      • Best Centralized Exchange List 2025
      • Best Decentralized Exchange List 2025
    • ALTCOIN
    • Alt Coin Signal
    • Crypto Analysis
    • Bitcoin Loan
    • Bitcoin Mining
    • WALLETPRO
  • PR
    PR
    If You Looking For Submit Cryptocurrency Press Releases Than Coinworldstory Is Best Choice For Crypto Press Release Submission
    Show More
    Top News
    miningmovement.com
    The Mining Movement – Is it worth the hype?
    5 years ago
    XCrypt: An Exciting Future-Proof Crypto Exchange Taking The IEO Route
    XCrypt: An Exciting Future-Proof Crypto Exchange Taking The IEO Route
    2 years ago
    Gnosis Safe launches on EVM-compatible network Polygon
    2 years ago
    Latest News
    Psy Protocol Testnet Combines Internet Scale and Speed with Bitcoin-Level Security
    2 days ago
    Eightco Holdings Inc. ($ORBS) Expands Investor Access with Options Trading
    2 days ago
    Codego Launches Whitelabel Devices Bringing Tokens Into Daily Life
    2 days ago
    Solo Leveling Levels Up: Korean Billion-Dollar Megafranchise Goes Onchain with Story
    3 days ago
  • NEWS
    • Mining
    • Altcoins
    • Ban
    • BANKING/FINANCE NEWS
    • Bitcoin
    • Blockchain
    • CRYPTO CRIME
    • Ethereum
    • Exchange News
    • Government News
    NEWSShow More
    Why Shiba Inu Large Transaction Volume Is Dropping Fast
    Why Shiba Inu Large Transaction Volume Is Dropping Fast
    3 weeks ago
    Crypto Tax Rules In Russia – What You Should Know
    Crypto Tax Rules In Russia – What You Should Know
    1 month ago
    Elon Musk Considering Blockchain To Bolster us Government Efficiency
    Elon Musk Considering Blockchain To Bolster us Government Efficiency
    1 month ago
    10 Next Big Meme Coin To Explode
    10 Next Big Meme Coin To Explode
    1 month ago
    KuCoin Lists Unite (UNITE) as Trading Begins for Mobile-Focused Layer 3 Blockchain
    KuCoin Lists Unite (UNITE) as Trading Begins for Mobile-Focused Layer 3 Blockchain
    2 months ago
  • MORE
    • Guide
    • Only Best
    • Off Topic
    • Best Affiliate Marketing
    • Best Affiliate Programs
    • BOTS
    • Trusted Currency Exchanger Platform
    • Blockchain Games
    • Metaverse Review : Best Metaverse Program Review
    • Online Survey
    • Payment Platform
  • VPN
  • Contact Us
Reading: Pay off your Maker loan, get your collateral back! Celsius transfers $500 million in WBTC to FTX
Share
Notification Show More
Font ResizerAa
CoinworldstoryCoinworldstory
Font ResizerAa
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
Search
  • HOME
  • CRYPTO
    • AI
    • BOTS
    • ICO
    • AIRDROP
    • Price Prediction
    • EXCHANGE
    • ALTCOIN
    • Alt Coin Signal
    • Crypto Analysis
    • Bitcoin Loan
    • Bitcoin Mining
    • WALLETPRO
  • PR
  • NEWS
    • Mining
    • Altcoins
    • Ban
    • BANKING/FINANCE NEWS
    • Bitcoin
    • Blockchain
    • CRYPTO CRIME
    • Ethereum
    • Exchange News
    • Government News
  • MORE
    • Guide
    • Only Best
    • Off Topic
    • Best Affiliate Marketing
    • Best Affiliate Programs
    • BOTS
    • Trusted Currency Exchanger Platform
    • Blockchain Games
    • Metaverse Review : Best Metaverse Program Review
    • Online Survey
    • Payment Platform
  • VPN
  • Contact Us
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Home » Blog » Pay off your Maker loan, get your collateral back! Celsius transfers $500 million in WBTC to FTX
Blockchain News / Crypto News

Pay off your Maker loan, get your collateral back! Celsius transfers $500 million in WBTC to FTX

News Expert
Last updated: 14/05/2023 12:51 PM
News Expert
3 years ago
Share
Disclosure: We are not a registered broker-dealer or an investment advisor. The services and information we offer are for sophisticated investors, and do not constitute personal investment advice, which of necessity must be tailored to your particular means and needs. !
Pay off your Maker loan, get your collateral back! Celsius transfers $500 million in WBTC to FTX
SHARE

Nearly a month after freezing user withdrawals and transfers, the cryptocurrency lending platform Celsius has finally paid off the decentralized lending protocol Maker’s loan and recovered 21,962 WBTC of collateral, which means that Celsius, which is in financial distress, is expected to receive Improved liquidity.

On June 12 this year, Celsius suddenly announced the suspension of user withdrawal, currency exchange and transfer functions, citing “extreme market conditions”, and then began to spread the news of insolvency, deep liquidity crisis and even on the verge of bankruptcy. Celsius said in a blog post last week that the company will stabilize liquidity and operations as soon as possible, and will continue to take measures to protect assets, while exploring options such as restructuring liabilities and seeking strategic deals.

On-chain data shows that Celsius repaid the remaining $41.2 million loan to the Maker Protocol on July 7, prompting the Maker Protocol to release the loan’s collateral — 21,962 WBTC worth $448 million.

About a few hours later, Celsius deposited another $500 million in WBTC with cryptocurrency exchange FTX, and according to blockchain data firm Nansen , Celsius-related wallets sent a total of 24,463 WBTC to FTX.

- Advertisement -

The move suggests that Celsius may be looking to sell the WBTC for a more liquid asset. In this regard, Fundstrat analyst Walter Teng also said that the collateral released by Celsius “can be sold on centralized exchanges or through OTC transactions to meet the needs of creditors and withdrawals by customers.”

On the surface, while repaying the loan might seem like good news for Celsius itself, if the company dumped such a large amount at once, it could also lead to a spike in market volatility.

Why Shiba Inu Large Transaction Volume Is Dropping Fast
Crypto Tax Rules In Russia – What You Should Know
Elon Musk Considering Blockchain To Bolster us Government Efficiency
10 Next Big Meme Coin To Explode
KuCoin Lists Unite (UNITE) as Trading Begins for Mobile-Focused Layer 3 Blockchain
Share This Article
Facebook Email Print
Previous Article Celsius accused of 'Ponzi scheme'! Former employee: Investing with customer deposits, manipulating currency prices Celsius accused of ‘Ponzi scheme’! Former employee: Investing with customer deposits, manipulating currency prices
Next Article The "Mt. Gox Black Swan" incident? Repayment Trust to Release Nearly 150,000 Bitcoins The “Mt. Gox Black Swan” incident? Repayment Trust to Release Nearly 150,000 Bitcoins
10 Best Multi-Asset Prop Firms for Diverse Traders 2025
10 Best Multi-Asset Prop Firms for Diverse Traders 2025
Prop Firm
10 Best Prop Firms In Saudi Arabia -Funded Traders 2025
10 Best Prop Firms In Saudi Arabia -Funded Traders 2025
Prop Firm
How To Sell Crypto On Robinhood Easily & Safely
How To Sell Crypto On Robinhood Easily & Safely
Guide & Crypto Education
Firedancer on Solana Explained: Boosting Speed & Scalability
Firedancer on Solana Explained: Boosting Speed & Scalability
Guide & Crypto Education

Latest Published

Ripple CTO Explains Why XRPL On-Chain Activity Remains Low Despite Global Adoption

Ripple CTO Explains Why XRPL On-Chain Activity Remains Low Despite Global Adoption

2 months ago
Why Is XRP Going Up? Key Reasons Explained

Why Is XRP Going Up? Key Reasons Explained

2 months ago
Michael Saylor Breaks Silence with Ominous Message as Bitcoin Stalls Near Peak

Michael Saylor Breaks Silence with Ominous Message as Bitcoin Stalls Near Peak

2 months ago
SEC Approves In-Kind Redemptions for Bitcoin, Ethereum ETFs to Cut Costs

SEC Approves In-Kind Redemptions for Bitcoin, Ethereum ETFs to Cut Costs

2 months ago
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
What Is Solana? A Complete Guide to the Fast and Scalable Blockchain
What Is Solana? A Complete Guide to the Fast and Scalable Blockchain
Trending
10 Best Shoes For Bunions – Comfort, Support & Pain Relief
10 Best Shoes For Bunions – Comfort, Support & Pain Relief
Trending
10 Best Macroeconomics Books-for Students and Professionals
10 Best Macroeconomics Books-for Students and Professionals
Trending
CoinworldstoryCoinworldstory
Follow US
© Coinworldstory News Network. Cws Design Company. All Rights Reserved.
  • ADVERTISEMENT
  • SUBMIT PR
  • CONTACT
  • GUEST POST
  • ABOUT US
  • DMCA
  • SITEMAP
  • DISCLAIMER
  • PRIVACY POLICY
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?