Paolo Ardoino, the Chief Technology Officer of Tether (USDT), denied reports about Tether receiving loans from Celsius.
On January 31, Shoba Pillay, the external examiner in the Celsius bankruptcy case, released a report detailing her investigation into Celsius’ operations. In it, Pillay alleged that Celsius had lent funds to several firms, including Alameda Research, 3AC, and Tether.
According to her report, Celsius’ loans to Tether were twice its credit limit, with the peak exposure to Tether amounting to $2B. In her words,
“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 risk’ to Celsius.”
In response, Tether CTO tweeted that contrary to Shoba Pillay’s report, Tether did not receive loans from Celsius. According to him, Tether borrowing funds from Celsius was “either a typo or a mis-characterization.”
