Troubled crypto lender Celsius reclaimed about $195 million of pledged collateral, by freeing up 10,000 wrapped bitcoin (wBTC) from DeFi lending protocol Compound.
Celsius paid down $50 million to Compound, fully paying off its remaining debt. Celsius transferred 50 million DAI tokens to Compound in two instances. This repayment led to the reclaiming of the 10,000 wBTC.
Read Also: Celsius Recovers $172M in Collateral from Aave and Compound
Celsius then transferred the 10,000 wBTC to some unlabelled wallet address, where already the firm’s 416,000 stETH (worth about $435 million at current prices) are stored. Reports of Celsius having filed for Chapter 11 bankruptcy also surfaced early this morning.
