Tether Denies Claims It Borrowed From Celsius

Tether, the largest stablecoin issuer in the blockchain universe, has denied claims it took a loan from crypto lending platform Celsius, which went bankrupt last year.

Official Shoba Pillay, appointed to the case by the bankruptcy court, said in a 700-page report submitted today that Celsius has owed $2 billion in loans to the stablecoin issuer. However, Tether has once again denied borrowing money.

Tether manager Paolo Ardoino made the following statement, citing an error in the document:

“There was a typo, probably as a result of the pressure of putting the file together in a short time. Contrary to what the report says, Celsius has to show an additional margin to stay within its risk calculation. Because Tether has already invested in Celsius.”

In the report prepared today by Inspector Shoba Pillay, how the bankrupt company came to this state was examined. Pillay found that Celsius had overstepped the limit by using large leverages when lending to other companies.

According to the documents, the quote from another report prepared in 2021 attracted attention.

In a report prepared in September 2021, it is stated that there is a great risk as the bankrupt company lends to Tether with very large leverage.

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