Ethereum

Celsius

BitDAO

Arkham

<div class="cryptonews">
 <p class="is-style-lead">Embattled crypto lender Celsius has moved over $125 million in Ethereum to various cryptocurrency <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> in the last week, signaling its plans to commence <a rel="noopener noreferrer nofollow" title="creditor" href="https://thebittimes.com/tag/creditor.html">creditor</a> repayments.</p>
 <p>Data from Arkham Intelligence shows that between Jan. 8 and 12, Celsius transferred Ethereum worth $95.5 million to Coinbase and $29.7 million to FalconX.</p>
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    <p lang="en" dir="ltr">Looks like Celsius took the opportunity to unload &gt;$125M of ETH over ETF Week.<br><br>In the past week, they’ve deposited $95.5M to Coinbase and sent $29.73M to FalconX.<br><br>They still have $1.4 billion (540K ETH) remaining.https://t.co/jp1PJbN46r pic.twitter.com/xgfX6yU5Ye</p>— Arkham (@ArkhamIntel) January 13, 2024
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 <p>Despite these large transfers, the lender still holds substantial assets, including over 580,000 ETH, currently valued at approximately $1.47 billion, and 9,799 BTC worth around $417.67 million.</p>
 <p>On Jan. 5, Celsius Network unstaked an impressive 206,300 ETH, valued at $470 million, with the intention of using these funds for expenses related to its restructuring and to prepare for the repayment of its <a rel="noopener noreferrer nofollow" title="creditor" href="https://thebittimes.com/tag/creditor.html">creditor</a>s.</p>
 <p>The move, however, has elicited mixed reactions from market observers. While some express concerns about the potential negative impact on Ethereum’s market value, others see it as a positive step for ETH’s long-term prospects, especially as Celsius works through its restructuring.</p>
 <p>The repayment plan announced by Celsius includes the distribution of Bitcoin (BTC) and Ethereum (ETH) to its <a rel="noopener noreferrer nofollow" title="creditor" href="https://thebittimes.com/tag/creditor.html">creditor</a>s, although a specific date for the commencement of these distributions has not been disclosed.</p>
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 <p>Creditors have been awaiting the return of their funds for over 18 months since Celsius first declared bankruptcy in July 2022.</p>
 <p>The lender’s entry into bankruptcy was precipitated by a liquidity crisis amidst a broader downturn in the cryptocurrency market, leading to the freezing of withdrawals and a subsequent filing for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.</p>
 <p>Celsius has since been actively working towards a settlement plan, which currently allows qualified users to withdraw 72.5% of their crypto holdings until Feb. 28. Court documents from September indicate that approximately 58,300 users had a combined total of $210 million in assets classified as “custody assets.”</p>
 <p>Meanwhile, two companies associated with Sam Bankman-Fried‘s now-defunct crypto empire, FTX and Alameda Research, have also been transferring funds to centralized <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a>. Last week, these entities moved digital assets worth $28.2 million, including 402.6 Wrapped Bitcoin, 3,200 Ethereum, 602,000 Pendle, and 9.03 million People.</p>
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    <p lang="en" dir="ltr">Institutions #FTX and #Celsius moved $35.1M worth of $WBTC and $ETH to CEX as the $BTC and $ETH prices surged sharply in 24H.<br><br>1. #FTX and #Alameda Research moved $11.72M, including:<br>– 200 $WBTC ($9.39M) to #Binance at $46,952<br>– 1,000 $ETH ($2.33M) to #Coinbase at $2,330<br><br>2.… https://t.co/oggGMhcUC8 pic.twitter.com/o79tjOQWLk</p>— Spot On Chain (@spotonchain) January 9, 2024
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 <p>FTX and Alameda still hold around $1.2 billion in EVM assets, and the recent asset movements are speculated to be preparatory steps for sales aimed at compensating affected customers.</p>
 <h2 class="wp-block-heading" id="400m-token-unlock-pending">$400m token unlock pending</h2>
 <p>Additionally, CryptoRank, a crypto analytics platform, highlighted that seven crypto projects are set to unlock a total of $407.7 million worth of digital assets soon.</p>
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    <p lang="en" dir="ltr">Top 7 Token Unlocks of the Upcoming Week<br><br>The following tokens with the largest unlock amount will be unlocked next week:$BIT – $147.74M$SEI – $88.09M$UNI – $55.54M$ACE – $38.53M$LDO – $28.48M$AXS – $27.15M$APE – $22.48M<br><br> https://t.co/CotVqrT24x pic.twitter.com/Xi8VtgeKNy</p>— CryptoRank.io (@CryptoRank_io) January 13, 2024
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 <p>BitDAO leads this list with the impending release of 172.98 million tokens, representing 1.8% of its total supply and valued at $147.74 million.</p>
 <p>Other significant tokens set to be unlocked are SEI, valued at $88.09 million; UNI, at $55.54 million, ACE worth $38.53 million, LDO at $28.48 million, AXS valued at $27.15 million; and APE at $22.48 million.</p>
 <p>The upcoming release of these tokens is expected to have a further impact on the crypto market in the following week.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/celsius-moves-125m-in-eth-to-exchanges-amid-plan-to-repay-creditors-tbt76583.html">https://thebittimes.com/celsius-moves-125m-in-eth-to-exchanges-amid-plan-to-repay-creditors-tbt76583.html</a></p>

Celsius moves $125m in ETH to exchanges amid plan to repay creditors

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