{"id":472003,"date":"2022-07-08T20:15:00","date_gmt":"2022-07-08T17:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-liquidates-celsius-position-with-no-losses-to-stablecoin-issuer\/"},"modified":"2022-07-08T20:15:00","modified_gmt":"2022-07-08T17:15:00","slug":"tether-liquidates-celsius-position-with-no-losses-to-stablecoin-issuer","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-liquidates-celsius-position-with-no-losses-to-stablecoin-issuer\/","title":{"rendered":"# Tether liquidates Celsius position with \u2018no losses\u2019 to stablecoin issuer"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3405abbee19\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3405abbee19\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tether-liquidates-celsius-position-with-no-losses-to-stablecoin-issuer\/#%E2%80%9D_Tether_liquidates_Celsius_position_with_%E2%80%98no_losses_to_stablecoin_issuer_%E2%80%9C\" >&#8221; Tether liquidates Celsius position with \u2018no losses\u2019 to stablecoin issuer  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_liquidates_Celsius_position_with_%E2%80%98no_losses_to_stablecoin_issuer_%E2%80%9C\"><\/span>&#8221; Tether liquidates Celsius position with \u2018no losses\u2019 to stablecoin issuer  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvNDYyM2VlMTctNGQyYy00MjA3LTg1YTYtNmY2YWJjYzg0OTA3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Tether\u2019s Bitcoin (BTC)-denominated loan to Celsius Network has been fully liquidated without a loss, easing concerns that the stablecoin issuer may have oversized exposure to the embattled crypto lender.<\/p>\n<p>In a statement issued Friday, Tether <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/tether-discloses-celsius-loan-liquidation-process\/\">explained<\/a> that its lending arrangement with Celsius prevented any downside risk to its underlying business. Specifically, the BTC-denominated loan issued to Celsius was overcollateralized by 130%, and the original agreement allowed Tether to liquidate the collateral to cover the loan.<\/p>\n<p>\u201cThis process was carried out in a way to minimise as much as possible any impact on the markets and in fact, once the loan was covered, Tether returned the remaining part to Celsius as per its agreement,\u201d the statement read. \u201cCelsius position has been liquidated with no losses to Tether.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;This process was carried out in a way to minimize as much as possible any impact on the markets and in fact, once the loan was covered, Tether returned the remaining part to Celsius as per its agreement. Celsius position has been liquidated with no losses to Tether.&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/K1cBkaQWWI\">https:\/\/t.co\/K1cBkaQWWI<\/a><\/p>\n<p>\u2014 Paolo Ardoino (@paoloardoino) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paoloardoino\/status\/1545392736873897985?ref_src=twsrc%5Etfw\">July 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nRumors of Celsius\u2019 insolvency began circulating last month after the crypto lender was forced to halt withdrawals due to \u201cextreme market conditions.\u201d Details of massive losses and liquidity constraints soon trickled in as the firm hired new legal counsel to advise on restructuring. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Celsius pays down 143M in DAI loans since July 1<\/em><\/strong><\/p>\n<p>With the crisis unfolding in June, Tether issued a statement explaining that its portfolio investments in Celsius had nothing to do with the health and backing of USDT, the world\u2019s largest stablecoin by market capitalization. <\/p>\n<p>\u201cWhile Tether\u2019s investment portfolio does include an investment in the company, representing a minimal part of our shareholders&#8217; equity, there is no correlation between this investment and our own reserves or stability,\u201d the company <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/celsius-feels-impact-of-market-volatility-tether-reserves-hold-strong\/\">said<\/a> on June 13. The same message was relayed verbatim in Tether\u2019s Friday statement. <\/p>\n<p>USDT is the most widely used stablecoin on the market but its dominance has declined over the past year. Currently, USDT has a total market cap of $66 billion, according to CoinMarketCap. Circle&#8217;s USD Coin (USDC) comes in at a close second with $55.5 billion in capitalization.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tether-liquidates-celsius-position-with-no-losses-to-stablecoin-issuer\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether liquidates Celsius position with \u2018no losses\u2019 to stablecoin issuer &#8220; Tether\u2019s Bitcoin (BTC)-denominated loan to Celsius Network has been fully liquidated without a loss, easing concerns that the stablecoin issuer may have oversized exposure to the embattled crypto lender. In a statement issued Friday, Tether explained that its lending arrangement with Celsius prevented&#8230;<\/p>\n","protected":false},"author":1,"featured_media":472004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvNDYyM2VlMTctNGQyYy00MjA3LTg1YTYtNmY2YWJjYzg0OTA3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75493,117,73808,36041],"class_list":["post-472003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-stablecoin","tag-business","tag-loans","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=472003"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472003\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/472004"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=472003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=472003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=472003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}