Is Celcius and terra (Luna) collapsing?

According to the filings made in court, Celsius has given two loans for 3AC in USDC stablecoin which are worth $50 million and $25 million. Hence, now it’s clear that Celcius, Three Arrow Capitals, and Terra (LUNA) crash are all interconnected. Just after Terra collapsed, 3AC too followed had a worst on the overall market sentiment.

What happened to Celsius and 3AC?

This led to liquidity issues at Celsius and 3AC, two companies that made risky crypto gambles using borrowed funds. As cryptocurrencies started falling this year, investors wanted to take their funds out of firms like Celsius and 3AC.

Did Coinbase invest in TerraForm labs?

Coinbase said in a blog post that it had “no financing exposure” to collapsed crypto firms Celsius, Three Arrows Capital and Voyager Digital. The firm did, however, make a “non-material” investment in Terraform Labs, the Singapore-based company behind failed stablecoin project Terra. Shares of Coinbase climbed 14% Wednesday.

Is Celsius a decentralized lending platform?

The “lending platform” Celsius could be accused of similarly exaggerated claims – while it tied itself rhetorically to DeFi, or decentralized finance, it is an entirely centralized entity that merely acted as an intermediary to DeFi. That also makes it a ripe target for lawsuits after it froze withdrawals – potentially a prelude to default.