Wintermute Repays $92 Million TrueFi Loan Amidst Ongoing Debt Obligations

Wintermute, a leading cryptocurrency market maker, has successfully repaid a $92 million Tether (USDT) loan to TrueFi, addressing a portion of its debt obligations following a significant hack.

Published on 2022-10-17

Wintermute Repays $92 Million Tether Loan to TrueFi

Wintermute, a prominent cryptocurrency market maker, has made progress in addressing its debt obligations by repaying a $92 million Tether (USDT) loan to TrueFi. The repayment, due on October 15, marks a significant step forward for the company after it suffered a $160 million hack earlier this year.

Remaining Debt Obligations

Despite this repayment, Wintermute still faces notable debt obligations. The company owes $75 million to Maple Finance, denominated in USD Coin (USDC) and wrapped ether (wETH), and an additional $22.4 million to Clearpool. These remaining debts total $97.4 million, underscoring the ongoing financial challenges Wintermute must navigate.

The situation highlights the broader risks and complexities associated with cryptocurrency market making, particularly in the wake of high-profile hacks and liquidity pressures. Investors and stakeholders in the crypto space are closely monitoring Wintermute's progress as it works to stabilize its operations and rebuild confidence.

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