Key facts:
Celsius still owes $60 million to DeFi platforms.
Since mid-June, Celsius customers have not been able to withdraw their cryptocurrencies.
After paying off its debt to MakerDAO, cryptocurrency investment firm Celsius continues to pay off other lenders. Now it was the turn of Aave, a decentralized finance platform (DeFi) from which Celsius withdrew 6,083 bitcoins (BTC) yesterday.
At the time of this publication, as can be seen in the CriptoNoticias Calculator, the withdrawn amount is equivalent to about USD 120 million. The BTCs were in their version of Ethereum, wBTC.
The public address of Celsius allows us to observe that in recent days, USD 78 million of the stablecoin USDC was also paid to Aave.
The purpose of these payments is to reduce settlement risk. If the much-feared liquidation were to occur, Celsius would never be able to pay its customers back.
As this medium has reported, the company led by the Ukrainian-American Alex Mashinsky, prevents its users from withdrawing cryptocurrencies from the platform since mid-June. The reason is lack of liquidity to be able to comply with the payments, in case massive withdrawals were made.
in the browser ZapperFinance it is noted that Celsius still has a debt of almost USD 60 million with the Aave and Compound platforms.