Cryptocurrency News

Tether liquidates Celsius position with ‘no losses’ to stablecoin issuer

07/09/2022

Less than a minute

2022.07.09 01:25

Tether liquidates Celsius position with ‘no losses’ to stablecoin issuer

Tether’s Bitcoin (BTC)-denominated loan to Celsius Network has been fully liquidated without a loss, easing concerns that the stablecoin issuer may have oversized exposure to the embattled crypto lender.

In a statement issued Friday, Tether explained that its lending arrangement with Celsius prevented any downside risk to its underlying business. Specifically, the BTC-denominated loan issued to Celsius was overcollateralized by 130%, and the original agreement allowed Tether to liquidate the collateral to cover the loan.

07/09/2022

Less than a minute

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