#BTCSSellsETHAtLoss
🚨 ETHEREUM TREASURY COMPANY SELLS AT A LOSS TO KEEP ITS $64 MILLION LOAN
Folks, Ethereum treasury company BTCS just admitted to the SEC that it sold ETH below its purchase price to keep its $64.1 million loan on Aave from being liquidated. As of 9/11, the loan was collateralized by 46,676 ETH worth $99.3 million, with a health factor of just 1.24. CoinDesk estimates that if ETH falls to around $1,717, Aave will automatically liquidate the loan, while $ETH Eternity is only around $1,953, about 12% above that threshold. At the end of September, the company had only $463,000 in cash, and most of its digital assets had been pledged to Aave.
Biggest perpetual movement today: $$ZEC 947, $$ICP 2.61
#Ethereum #BTCS #Aave
🚨 ETHEREUM TREASURY COMPANY SELLS AT A LOSS TO KEEP ITS $64 MILLION LOAN
Folks, Ethereum treasury company BTCS just admitted to the SEC that it sold ETH below its purchase price to keep its $64.1 million loan on Aave from being liquidated. As of 9/11, the loan was collateralized by 46,676 ETH worth $99.3 million, with a health factor of just 1.24. CoinDesk estimates that if ETH falls to around $1,717, Aave will automatically liquidate the loan, while $ETH Eternity is only around $1,953, about 12% above that threshold. At the end of September, the company had only $463,000 in cash, and most of its digital assets had been pledged to Aave.
Biggest perpetual movement today: $$ZEC 947, $$ICP 2.61
#Ethereum #BTCS #Aave
