{"id":294295,"date":"2023-02-01T06:40:17","date_gmt":"2023-02-01T06:40:17","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=294295"},"modified":"2023-02-01T06:37:39","modified_gmt":"2023-02-01T06:37:39","slug":"tether-denies-borrowing-from-bankrupt-celsius","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/tether-denies-borrowing-from-bankrupt-celsius\/","title":{"rendered":"Tether denies borrowing from bankrupt Celsius"},"content":{"rendered":"

Tether's (USDT<\/a>) chief technology officer Paolo Ardoino has denied<\/span> that the stablecoin issuer took a loan from Celsius in a Jan. 31 tweet.<\/p>\n

Ardoino responded to a Twitter thread on the Celsius examiner report<\/a> that said that Tether, alongside Three Arrows Capital and Alameda Research, could exceed their credit limits with the bankrupt lender.<\/p>\n

The report claimed that the stablecoin issuer had over $2 billion exposure to Celsius and was considered an “existential threat” to the lender's financial health. It added that Celsius' couldn't survive a Tether default because its capital was insufficient.<\/p>\n

“The Tether exposure eventually grew to over $2 billion -a number so large that in late September 2021, that exposure was described to the Risk Committee as present[ing] an ‘existential threat' to Celsius.”<\/p><\/blockquote>\n

However, Ardoino has denied<\/a> these claims saying the document either made a typographical error or a mischaracterization. According to him, Tether never borrowed from Celsius.<\/p>\n

In a July 2022 statement, Tether said<\/a> it liquidated a loan to the crypto lending firm without incurring any losses. The stablecoin issuer did not state the dollar value of the loan<\/a>.<\/p>\n

Meanwhile, Tether said<\/a> it would stop its secured lending practices in 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether’s (USDT) chief technology officer Paolo Ardoino has denied that the stablecoin issuer took a loan from Celsius in a Jan. 31 tweet. Ardoino responded to a Twitter thread on the Celsius examiner report that said that Tether, alongside Three Arrows Capital and Alameda Research, could exceed their credit limits with the bankrupt lender. The […]<\/p>\n","protected":false},"author":720,"featured_media":250395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77901,60035],"tags":[77137,76896],"post_folder":[],"acf":[],"yoast_head":"\nTether denies borrowing from bankrupt Celsius<\/title>\n<meta name=\"description\" content=\"Celsius' examiner report claimed Tether had over $2 billion Celsius exposure and was an "existential threat" to the lender's financial health.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/tether-denies-borrowing-from-bankrupt-celsius\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether denies borrowing from bankrupt Celsius\" \/>\n<meta property=\"og:description\" content=\"Celsius' 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