Tether Liquidated an Overcollateralized Bitcoin Loan From Celsius Without Risk.

  1. tldr; Tether, the company behind USDT, the largest stablecoin by market capitalization, has liquidated Celsius’s position without risk to its reserves. Celsius took an overcollateralized loan from the company, denominated in bitcoin. Tether did not reveal the USD value of the liquidated loan but said it was completed with no risk

  2. Celsius took out a loan from Tether with more Bitcoin than the original Tether loan was worth (overcollateralized). Since Celsius is going bankrupt or whatever, Tether closed out their loan and kept the amount of Bitcoin equivalent to the original loan and refunded them the extra Bitcoin.

  3. This is one of those where even if USDT collapses one day nobody can say "I told you" because people have been calling for a collapse every single day for years in a row. Just let it go my dudes.

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