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Tether CTO replying to a claim that Tether was underwater on the loan:

Incorrect. Liquidation happened when while the price was well above 100% and in fact Tether returned the excess to Celsius.

https://twitter.com/paoloardoino/status/1545445106270060545
https://nitter.net/paoloardoino/status/1545445106270060545 <-- May be easier to read