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BTCS sells ether at a loss to protect $64 million Aave loan

Nasdaq-listed Ethereum treasury company BTCS sold ether at a loss to repay DeFi debt and protect an Aave loan of roughly $64 million from liquidation risk.

BTCS company logo in white and purple against a dark blue background.
Image: @TheBlockCo

Nasdaq-listed Ethereum treasury firm BTCS sold ether at a loss to manage collateral and repay decentralized finance debt, according to the company's latest quarterly filing reported by The Block. The sales were intended to safeguard the firm's lending position on the DeFi platform Aave against potential liquidation.[1][2][3]

As of Nov. 9, BTCS owed $64.1 million on Aave, supported by 46,676 ETH in pledged collateral. Reports from CoinDesk and crypto.news indicate that the borrowings faced liquidation risk if the market price of ether declined to approximately $1,700 to $1,717 based on the firm's Nov. 9 position.[1][2][3]

Key facts

  • BTCS sold ether at a loss to manage collateral and repay DeFi debt, according to its latest quarterly filing.
  • The company held an outstanding debt of $64.1 million on Aave as of Nov. 9.
  • BTCS had 46,676 ETH pledged as collateral backing its Aave loan.
  • Based on its Nov. 9 position, the loan risked becoming eligible for liquidation if ether fell to around $1,700 to $1,717.

Sources · 3 sources

  1. TB

    The Block@TheBlockCoPost on X ·

    THE BLOCK: Ethereum treasury firm $BTCS sold ethereum:native at a loss to manage collateral and repay DeFi debt, according to its latest quarterly filing. The company owed $64.1 million on Aave as of Nov. 9, backed by 46,676 ETH. https://t.co/KRODnhNcVy

    Open source
  2. CO

    CoindeskArticle ·

    Ethereum treasury firm BTCS sold ether at a loss to keep $64 million Aave loan healthy The Nasdaq-listed company has 46,676 ETH backing its borrowings, and the loan could become eligible for liquidation if ether slides to around $1,700.

    Open source
  3. CN

    crypto.news@cryptodotnewsPost on X ·

    JUST IN: Ethereum treasury firm BTCS sells ETH at a loss to protect its $64M Aave loan from liquidation The Nasdaq-listed company has 46,676 ETH backing its $64.1M debt, with liquidation risk emerging if ETH falls to around $1,717, based on its November 9 position. https://t.co/S0bcDHRai2

    Open source