Ethereum infrastructure firm BTCS repaid Aave debt in the second quarter by converting Ethereum to stablecoins, ending June with $317,113 in cash and stablecoins. BTCS, a Nasdaq‑listed company that provides Ethereum development tools, reported a balance sheet of $89.3 million in assets and $50.4 million in liabilities at quarter‑end. The firm swapped about $8.27 million of Ethereum for principal and $381,103 for accrued interest, which it reported as an $8.2 million Aave repayment. Aave collateral fell from roughly 49,970 aETHWETH valued at $105.1 million on March 31 to 47,775 worth $75.0 million on June 30, while DeFi loans declined from $43.8 million to $36 million. Cash and stablecoins together represented 0.36 percent of total assets, and the company held $88.1 million in other digital‑asset categories that remain exposed to market swings, protocol risk and collateral calls. BTCS recorded a net loss of $34.9 million in Q2, including $21.4 million of unrealized digital‑asset losses and $4.9 million of realized transaction losses, but no liquidation events were reported through mid‑August. Operating cash flow for the first half was negative $1.3 million, while gross profit reached $1.5 million at a 61 percent margin and DeFi revenue matched that amount. The rebound in Ethereum price to near $2,336 after August 17 does not indicate a change in debt levels, and BTCS has not disclosed a specific liquidation price for future collateral declines.