Is Celsius (CEL) Next To File Bankruptcy After Voyager, Three Arrows

Crypto lender Celsius has paid off another $40.8 million towards its outstanding loan of Maker. The wBTC liquidation price has now dropped to $2,722.11. The beleaguered crypto lender has paid almost $180 million of Maker loan in July.

Meanwhile, the FUD is rising again after Voyager Digital announced that it has filed for Chapter 11 bankruptcy. Also, the Three Arrows Capital and Vauld situation have worsened the sentiments. So, is Celsius next to file for bankruptcy?

Celsius Actively Repays its Outstanding Loan

According to DeFi Explore data, Celsius’ multi-collateral DAI vault 25977 now has an outstanding loan of 41.2 million DAI. The wBTC liquidation price has dropped to $2,722.11 after another $40.8 million loan repayment on July 5. Also, the collateral ratio has jumped over 1000%, with 21,962 WBTC as collateral.

Yesterday, the liquidation price fell to $4966.99 from $11,800 after Celsius repaid almost $120 million for its Maker loan. Other than its Maker loan, the company also has outstanding loans from Compound and AAVE. Although, the data on its loan has not been disclosed by Celsius, around $400 million of debt still exists. Moreover, its exposure to non-DeFi is also unclear.

Voyager Digital today filed for Chapter 11 bankruptcy in the Southern District of New York after its exposure to Three Arrow Capital, which has also filed for bankruptcy. Crypto exchange FTX was unable to rescue Voyager Digital after Three Arrows defaulted on a $660 million loan.

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