Ethereum

Celsius

BitDAO

Arkham

Spot

<p class="is-style-lead">Embattled crypto lender <a href="https://crypto.news/tag/celsius" rel="noopener noreferrer nofollow">Celsius </a>has moved over $125 million in Ethereum to various cryptocurrency exchanges in the last week, signaling its plans to commence creditor 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.<a href="https://t.co/jp1PJbN46r" target="_blank" rel="noopener noreferrer nofollow">https://t.co/jp1PJbN46r</a> <a href="https://t.co/xgfX6yU5Ye" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/xgfX6yU5Ye</a></p>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1746186137159282840?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 13, 2024</a>
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<p>Despite these large transfers, the lender still holds substantial assets, <a href="https://platform.arkhamintelligence.com/explorer/entity/celsius-network" target="_blank" rel="noopener noreferrer nofollow">including over 580,000 ETH</a>, 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, <a href="https://crypto.news/celsius-moves-to-unstake-470m-in-eth-for-creditor-repayments/" rel="noopener noreferrer nofollow">valued at $470 million</a>, with the intention of using these funds for expenses related to its restructuring and to prepare for the repayment of its creditors.</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 (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) to its creditors, although a specific date for the commencement of these distributions has not been disclosed.</p>
<p>You might also like: <a href="https://crypto.news/celsius-attempts-to-recover-funds-withdrawn-by-creditors-in-pre-bankruptcy-period/" rel="noopener noreferrer nofollow"> Celsius attempts to recover funds withdrawn by creditors in pre-bankruptcy period </a></p>
<p>Creditors have been awaiting the return of their funds for over 18 months since Celsius first <a href="https://crypto.news/shaky-cryptocurrency-lending-platform-celsius-files-for-chapter-11-bankruptcy/" rel="noopener noreferrer nofollow">declared bankruptcy </a>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 <a href="https://crypto.news/celsius-to-repay-72-5-of-the-crypto-assets-on-custody-account-settlement/" rel="noopener noreferrer nofollow">towards a settlement plan</a>, 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<a href="https://crypto.news/tag/sam-bankman-fried/" rel="noopener noreferrer nofollow"> Sam Bankman-Fried</a>‘s now-defunct crypto empire, <a href="https://crypto.news/tag/ftx" rel="noopener noreferrer nofollow">FTX </a>and <a href="https://crypto.news/tag/alameda-research/" rel="noopener noreferrer nofollow">Alameda Research</a>, have also been transferring funds to centralized exchanges. 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 <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FTX</a> and <a href="https://twitter.com/hashtag/Celsius?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Celsius</a> moved $35.1M worth of <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$WBTC</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> to CEX as the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> prices surged sharply in 24H.<br><br>1. <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FTX</a> and <a href="https://twitter.com/hashtag/Alameda?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Alameda</a> Research moved $11.72M, including:<br>– 200 <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$WBTC</a> ($9.39M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Binance</a> at $46,952<br>– 1,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> ($2.33M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Coinbase</a> at $2,330<br><br>2.… <a href="https://t.co/oggGMhcUC8" target="_blank" rel="noopener noreferrer nofollow">https://t.co/oggGMhcUC8</a> <a href="https://t.co/o79tjOQWLk" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/o79tjOQWLk</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1744534960420364679?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 9, 2024</a>
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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 $407.7 million worth of digital assets soon.</p>
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   <p lang="en" dir="ltr">Top 7 Token Unlocks of the Upcoming Week<br><br>The following tokens with the largest unlock amount will be unlocked next week:<a href="https://twitter.com/search?q=%24BIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BIT</a> – $147.74M<a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SEI</a> – $88.09M<a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$UNI</a> – $55.54M<a href="https://twitter.com/search?q=%24ACE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ACE</a> – $38.53M<a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LDO</a> – $28.48M<a href="https://twitter.com/search?q=%24AXS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$AXS</a> – $27.15M<a href="https://twitter.com/search?q=%24APE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$APE</a> – $22.48M<br><br>👉 <a href="https://t.co/CotVqrT24x" target="_blank" rel="noopener noreferrer nofollow">https://t.co/CotVqrT24x</a> <a href="https://t.co/Xi8VtgeKNy" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Xi8VtgeKNy</a></p>— CryptoRank.io (@CryptoRank_io) <a href="https://twitter.com/CryptoRank_io/status/1746262163272933441?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 13, 2024</a>
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<p><a href="https://crypto.news/tag/bitdao" rel="noopener noreferrer nofollow">BitDAO </a>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>
<p>Read more: <a href="https://crypto.news/hut-8-signs-interim-deal-for-texas-mining-amid-celsius-bankruptcy/" rel="noopener noreferrer nofollow"> Hut 8 signs interim deal for Texas mining amid Celsius bankruptcy </a></p>

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

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