Ethereum

Celsius

Chainlink

Spot

Coin

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/celsius-network-continues-asset-liquidation-post-bankruptcy" rel="noopener noreferrer nofollow">Celsius Network Continues Asset Liquidation Post-Bankruptcy</a> 
Celsius Network, a cryptocurrency lending firm, is proceeding with asset liquidation as part of its restructuring plan following its 2022 bankruptcy. The company recently transferred approximately $25.7 million worth of Polygon’s MATIC tokens, totaling 34.09 million units, to the crypto exchange Binance. This move is part of a larger sell-off where Celsius deposited $44.5 million worth of MATIC to Binance within just two days.
According to on-chain data provider Spot On Chain, Celsius Network holds crypto assets worth $169.72 million. These assets are expected to be gradually liquidated as part of the company’s restructuring efforts. The largest portion of Celsius’s assets is in its own token, CEL, amounting to 652.23 million units valued at $123.44 million.
In addition to CEL, the bankrupt firm’s holdings include $24.49 million in Ethereum (ETH), $15.73 million in USD Coin (USDC), $1.46 million in Chainlink (LINK), and $1.26 million in MATIC. Other cryptocurrencies such as <a href="https://en.bitcoinhaber.net/tethers-bitcoin-holdings-reach-impressive-value-as-btc-price-soars" rel="noopener noreferrer nofollow">USDT</a>, PAXG, AAVE, DAI, and UNI are also awaiting liquidation, representing hundreds of thousands of dollars in value.
Celsius Network’s strategy for financial restructuring involves liquidating its assets to repay creditors. The agreed-upon payments are to be made in Bitcoin (BTC) and Ethereum, highlighting the approach the company is taking to manage its financial recovery post-bankruptcy.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/celsius-network-continues-asset-liquidation-post-bankruptcy" rel="noopener noreferrer nofollow">Celsius Network Continues Asset Liquidation Post-Bankruptcy</a></h5>

Celsius Network Continues Asset Liquidation Post-Bankruptcy

BH NEWS

Other articles published on Jan 20, 2024

Fidelity’s Bitcoin ETF Second to Surpass $1B AUM in One Week

Stop kicking the can on web3 development if we want adoption to grow | Opinion

Insider Declines 1M Ethereum; Gala & Rebel Satoshi Ready for Rise

New Pushd (PUSHD) Presale Causing Excitement For Arbitrum (ARB) And Dogecoin (DOGE) Investors

Options trading for Bitcoin ETFs may begin by the end of February; the SEC acknowledges proposals

Satoshi, X Post Confuses Viewers about Operator’s Identity

Join our free newsletter for daily crypto updates!