BTCS used Ethereum to repay Aave debt and ended Q2 with just $317,000 in cash

Nasdaq-listed Ethereum infrastructure company BTCS swapped ETH into USDT to pay down Aave loans in the second quarter and ended June 30 with $317,113 in cash and stablecoins.It also held about $88.1 million in other current digital-asset categories, making the issue less a lack of assets than how much of the balance sheet was exposed to crypto markets and DeFi.Comparing BTCS's first-quarter filing with its second-quarter filing shows about $8.27 million of the second-quarter ETH-to-USDT swaps for principal and $381,103 for accrued interest. BTCS described the move in its results announcement as an $8.2 million Aave repayment.At quarter-end, BTCS reported $89.3 million in assets and $50.4 million in total liabilities, including $36.0 million in DeFi-protocol loans. Cash was $262,436 and stablecoins were $54,677, together equal to about 0.36% of assets.Other current assets included treasury holdings, DeFi deployments, staked assets, liquidity-pool positions, and NFTs. They had balance-sheet value, but unlike idle cash, they remained subject to market moves, protocol risks, and collateral demands.A balance sheet comparison shows BTCS cutting DeFi loans and Aave collateral in Q2 while ...