Post
Topic
Board Bitcoin Discussion
Re: Less Worry: Celcius paid off its $114 million Bitcoin-backed loan in 24 hours.
by
Beparanf
on 06/07/2022, 12:39:43 UTC
Users of the crypto lending platform have finally felt some relief following Celcius Network's announcement that it has paid a total of $114 Million of its Bitcoin loan in the last 24 hours, lowering its liquidation price to $4,967

This means that the Bitcoin price must fall below $4,967 before Celcius is liquidated.


Source/Continue Reading: https://mycryptoparadise.com/less-anxiety-as-celcius-paid-114-million-of-its-bitcoin-backed-loan-in-24-hours/

The main question here is where the heck they get the funds for that loan repayment. There’s a possibility that they are using the balance of the user trapped on there DeFi to extend there liquidation and to attract more customers by building again there trust. I’m still not convinced enough about this news and probably truth will come out on the following days or weeks once crypto slide down further.