Embattled crypto lending platform, Celsius has made moves to get out of its troubles. The company has reportedly hired lawyers from Kirkland & Ellis LLP to advise on its restructuring options. This is the same firm that assisted Voyager Digital with its bankruptcy filing last week.
In another attempt in staying clear, the lending platform has paid off 20 million in USD Coin (USDC) to Aave. The latest loan repayment was picked up by blockchain analytics firm Peckshield on Sunday, July 10, sharing a screenshot of the 20 million USDC transfer from a Celsius wallet to Aave Protocol V2.
Defi tracking platform Zapper shows that Celsius still owes approximately $130 million in USDC and $82,500 in Ren (REN) to Aave. This is along with $85.2 million in Dai (DAI) to the Compound protocol, with a total debt of $215 million.
Last week, the lending platform paid off its remaining $41.2 million debt to Maker protocol on July 7. This help to free up more than $500 million in Wrapped Bitcoin (wBTC) collateral.