Tether, the producer of the largest stablecoin USDT, has announced that its loan to lending company Celsius has been closed without any problems.
Celsius, one of the cryptocurrency lending platforms, is on the market on June 12. “extraordinary conditions” He decided to freeze the withdrawals on the same grounds.
Celsius, which has about 1.7 million users, has customers’ money on the platform since then. Celsius, on the other hand, continues to struggle against financial difficulties.
Tether to Celsius “made a small investment” and also to the company A bitcoin-denominated loan with 130% over-collateralization had given.
According to the company’s statement today, this debt was closed without any financial loss on behalf of Tether. Tether transferred the surplus money back to Celsius after liquidation was achieved.