In the past days, allegations that the Fintech company Celcius, which is a high return rate and lending platform, could not make payments due to the market decline, came to the fore.
stETH price, which should normally be the same as 1:1 Ethereum 4.4% decline It was stated that he put the Celcius platform in trouble.
According to a news circulating in the market, an address thought to be Celcius is approximately in the Maker protocol. 18k Bitcoin by staking 280 million DAI debt reportedly received. Initially $22,500 Celcius, which will be liquidated if it falls, added to its positions later and lowered the liquidation price.
Later, the company added another 2000 bitcoins to its position on the Maker protocol, and approximately 262 million DAI debt it happened. Continuing to add with the decline of Bitcoin, the liquidation price of the company in the last case decreased to $ 16,850, and a total of 24 thousand Bitcoins were locked.
According to many commentators, the price drop as Celsius adds is something that market makers do deliberately.