The liquidation of the Celsius loan caused no losses at Tether
The liquidation of the Celsius loan caused no losses at Tether
- Tether admits that his portfolio still contains a “minimal” investment in Celsius
- The company did not state when the loan was accepted - or how much of the security of Bitcoin was lost during the recent loss of value
The company behind the StableCoin Tether on Friday Unveiled new details on the competitive crypto-credit providers Celsius - It says that the additional claims and subsequent liquidation have led to "no loss".
This is because the Bitcoin loan was overtaken to 130 % according to the company.
The company did not state when the loan was recorded - and how much of the security of Bitcoin was lost during the recent loss of value. The loan was completely granted by Tether, and USD even returned some of the collateral to Celsius.
tether seemed to throw a shot on Celsius and Voyager's credit practices.
"While the media, critics and the community were wrongly fixed on Tether, other lenders, including well -known names in the industry, made their credit facilities available with almost zero collateral," wrote the company. It was found that both Voyager and Celsius had granted underground loans after freezing customer accounts.
Tether confirmed that it holds a “minimal” investment in Celsius, which it claims that it has no influence on the reserves or stability of USDT.
"Critics who make claims about Tether's contradictions clearly have no understanding of how lending, borrowing and administration work," said the company.
A spokesman for Tether refused to comment on the exact schedule of the loan, including when it was created.
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The post "No losses to Tether" after the dissolution of the Celsius loan is not financial advice.