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.

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