Cryptocurrency markets have been going through tough times for months, and some projects have been severely affected by this process. Local tokens from crypto lending companies suffered double-digit losses within days. But there are also those who did not give up and managed to stay afloat.

CEL, the native token of well-known cryptocurrency firm Celsius, has gained 30% against Bitcoin as it has completed nearly $800 million in debt payments. Its dollar-based earnings approached 28%. Troubled crypto lender Celsius Network has paid off all debt to decentralized lending apps. On Wednesday, the firm repaid nearly $50 million of its debt to Compound's lending protocol in two transactions, thus eliminating the last of its remaining debt. The firm has paid off an estimated more than $800 million in debt to Aave, MakerDAO and Compound since June 10, according to on-chain records on wallets affiliated with Celsius.


Over the past month Celsius has reduced its positions to repurchase most of the collateral it has invested in lending applications. Last week, the firm paid off all its debt to MakerDAO and received $440 million in Bitcoin. Later, it also bought back $124 million in Bitcoin and $417 million in staked ETH from Aave. Today, it has withdrawn another $132 million in Bitcoin from Compound.

On-chain data shows Celsius is regularly transferring substantial amounts of collateral assets to centralized exchanges, likely to sell and pay off debt obligations. Celsius is grappling with bankruptcy triggered by the sharp drop in the prices of its crypto assets. On June 12, it froze withdrawals and transfers at its central lending service. Although withdrawals have not yet been opened, the company is taking important steps to reduce its risk.

Voyager and 3AC weren't as lucky as Celsius. Both companies filed for bankruptcy. In addition, the whereabouts of the 2 founders of the hedge fund 3AC is currently unknown. Cryptocurrency investors and big fund companies were borrowing their cryptocurrencies through companies like Celsius, Voyager, and 3AC, getting interest in return.