Celsius pays over $90m to Coinbase and FalconX via unstaked Ethereum
Over the past week, a total of 40,000 Ethereum, estimated to be over $90 million, was transferred by Celsius to its significant creditors, Coinbase and FalconX. According to Arkham Intelligence, Celsius still retains a substantial amount of Ethereum in its Staked ETH account, amounting to approximately 59,000 ETH, valued at over $133 million. The bankrupt lender’s recent activity is a strategic maneuver to unlock a considerable portion of its Ethereum holdings. This decision is part of a comprehensive plan designed to facilitate the allocation of assets to the firm’s creditors, a major step in its bankruptcy proceedings. Celsius will unstake existing ETH holdings, which have provided valuable staking rewards income to the estate, to offset certain costs incurred throughout the restructuring process — Celsius (@CelsiusNetwork) January 4, 2024 You might also like: Celsius moves to unstake $470m in ETH for creditor repayments Having filed for Chapter 11 bankrupt...