Pendle

Celsius

United

Arkham

Celsius, the embattled crypto lender, has orchestrated a substantial move of over $125 million worth of its Ether (ETH) holdings to various crypto exchanges in the past week. The move comes as part of Celsius’s ongoing efforts to address its financial woes and initiate repayments to creditors. How much did Celsius transfer? 
During January 8-12, Celsius transferred $95.5 million to Coinbase and $29.7 million to FalconX, as per Arkham Intelligence. This follows the lender’s decision on January 5 to unstake a substantial 206,300 ETH, valued at $518 million at the time. Celsius announced that it would allocate the liberated Ether to cover restructuring costs and prepare for creditor repayment.
Looks like Celsius took the opportunity to unload &gt;$125M of ETH over ETF Week.In the past week, they’ve deposited $95.5M to Coinbase and sent $29.73M to FalconX.They still have $1.4 billion (540K ETH) remaining.
Despite these significant transfers, Celsius still holds an impressive 550,000 ETH on its books, with a staggering current value of $1.38 billion.
Celsius has been vocal about its intention to distribute <a href="https://news.todayq.com/bitcoin-etf-approval-triggers-revolution-in-crypto-sports-gaming-platforms/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> and ETH to creditors as part of its recovery plan. However, a specific date for the commencement of creditor fund distribution has yet to be announced. The creditors have been patiently waiting for over 18 months since Celsius initially declared bankruptcy in July 2022. FXT and Alameda transfers 
Meanwhile, <a href="https://news.todayq.com/ftxs-ftt-bitcoin-cash-soars-amid-bitcoin-sell-off/" target="_blank" rel="noopener noreferrer nofollow">FTX</a>, another troubled player in the crypto space, and its defunct trading arm, Alameda Research, made their own moves. According to data from SpotOnChain, on January 14, FTX and Alameda Research executed transfers totaling $28 million, involving $18.7 million in Wrapped Bitcoin, $8 million in Ether, and $1 million in Pendle (PENDLE) to Coinbase and Binance.
🚨 Institutions
Following bankruptcy in November, FTX CEO Sam Bankman-Fried resigned, paving the way for successor John Ray. The companies under the FTX Group, including FTX Trading and FTX US, initiated bankruptcy proceedings in the United States. Administrators have successfully reclaimed approximately $7 billion in assets, with a substantial $3.4 billion in cryptocurrency.
Market sentiment toward FTX creditor claims has been positive, with some reaching as high as $0.50 on the dollar in October of the previous year. This suggests that creditors stand a reasonable chance of being fully reimbursed. While there is no exact date for when FTX customers can expect repayments, the current plan estimates that repayments should commence sometime this year.
These developments highlight the dynamic nature of the crypto market, with companies making strategic moves to address financial challenges and meet obligations to creditors. Celsius’s significant ETH transfers and FTX’s asset movements signal ongoing efforts within the industry to navigate financial difficulties and uphold commitments to stakeholders.
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Celsius initiates $125M ETH transfer, Crypto sell-off on the way?

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