Celsius is ‘Deeply Insolvent,’ Alleges Vermont Department of Financial Regulation

Celsius is ‘Deeply Insolvent,’ Alleges Vermont Department of Financial Regulation

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Last week, CoinDesk reported that Celsius fully paid off and closed its loan on Maker, one of the largest DeFi lending protocols, and freed up $440 million of collateral pledged against the loan, denominated in wrapped bitcoin (WBTC) tokens. Additionally, on Tuesday, the crypto lender reduced its debt by $95 million on Aave and freed up 410,000 stETH tokens, worth $426 million at the time of publishing, also reported by CoinDesk.



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