Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With N...

Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With N...

On July 8, 2022, the company behind the largest stablecoin in the world, Tether, revealed that the firm liquidated a loan made to the crypto lender Celsius, and the liquidation caused “no losses to Tether.” According to the stablecoin issuer, the bitcoin loan to Celsius was “overcollateralized” by roughly “130%+.” Tether Liquidates Bitcoin Loan Taken out by Celsius — Stablecoin Issuer Stresses It Will ‘Never Put the Integrity of Its Reserves at Risk’ The company Tether has informed the public that the firm “has never and....


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

The stablecoin issuer has once again explained that its investment in Celsius has no impact on its USDT reserves. 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....

Tether aims to decrease commercial paper backing of USDT to zero

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Tether: Celsius crisis has no impact on USDT reserves

The USDT stablecoin issuer Tether denies any correlation between its investment in Celsius and its reserves or stability. The ongoing crisis of Celsius’s native token has nothing to do with the stablecoin provider Tether and will not impact its USDT reserves, according to the company.Tether issued a statement on Monday regarding the major cryptocurrency lending platform Celsius halting withdrawals due to its rumored liquidity crisis. According to the statement, Tether’s lending activity with Celsius has “always been overcollateralized” as with any other borrower and “has no impact” on the....

Celsius reportedly seeks advice from lawyers on restructuring

Celsius reportedly onboarded attorneys to find different solutions to the current financial challenges that the company is facing. Crypto lending platform Celsius Network (CEL) has onboarded restructuring lawyers from Akin Gump Strauss Hauer & Feld to find potential solutions to the firm's financial woes. The firm is reportedly looking for other strategic alternatives, such as a financial restructuring, apart from its attempts to solve its current problems. The report also noted that Celsius is trying to find investors who would be able to provide financing options for the crypto lending....

$450 Million In Crypto Futures Liquidates As Market Surges

Data shows $450 million in crypto futures has liquidated over the last 24 hours as Bitcoin has broken past $47k and the overall market has observed a surge. $450 Million In Crypto Futures Liquidates, 75% Of Which Involves Shorts Yesterday, Bitcoin and the wider market started on a sharp uptrend, taking the total market cap […]