Celsius withdraws over 6K staked Ethereum

Bankrupt cryptocurrency lender Celsius has withdrawn 6,521 Ethereum — worth more than $13 million — since withdrawals enabled across the network through the Shapella upgrade.

Detective on the Lookonchain series mentioned On April 14, 239,882 ETH with a value of $504.5 million was withdrawn. The first three addresses that pulled their assets were Bankrupt Lender, Lido Protocol, and Figment.

Data from blockchain analysis firm Nansen confirmed that the bankrupt lender was withdrawing its assets. According to the dashboard, Celsius has withdrawn 4,991 ETH as of April 13, which equals 3.64%.

Withdrawal ETH (source: Nansen)

According to Arkham Intelligence dashboardThe lender owns 410,378 ETH worth $862.45 million.

Meanwhile, Lookonchain noted that Lido has withdrawn 152,780 ETH, which is 64% of all withdrawals. Staking Figment solution provider has processed the second largest withdrawal of 7,135 ETH.

Cryptocurrency exchanges are withdrawing the ETH stack

Along with the bankrupt lender, centralized cryptocurrency exchanges Kraken, Binance, Coinbase, Gemini, and Huobi It accounts for about 85% of the entities waiting to withdraw their pegged assets. according to Nansen From the data, 1.117 million ETH are currently in the withdrawal queue.

According to Nansen data, Kraken accounts for the most pending withdrawals with 556,321 ETH. Binance comes in second with 216,208 ETH, while Coinbase comes in third with 117,239. Huobi and Gemini want to withdraw 71,377 ETH.

Staked Ethereum pending withdrawals
Pending withdrawals (source: Nansen)

Recent regulatory actions in the US may force companies in the region to withdraw the ETH pegged to them. In February, the Securities and Exchange Commission fined Kraken $30 million for failing to register its staking services. The regulator also filed charges against Gemini and issued a notice from Wells to Coinbase.

Celsius wants to sue the creditor for leaking confidential information

Crypto blogger Tiffany Fong Proposal that Celsius wanted to sue her in a tweet on April 14. Fong shared a screenshot of the bankrupt lender’s monthly fee statement, including a $72,000 bill titled “Tiffany Fong Lawsuit.”

Celsius so Tiffany Fung
source: Tiffany Fung

Fong is a percentage creditor with about $119,000 locked in the company. She has been actively reporting on the Celsius bankruptcy case while sharing leaked inside information. The blog also caught the attention of the wider market when it interviewed the founder of the now defunct cryptocurrency exchange, FTX, Sam Bankman-Fried.


All information on our website is published in good faith and for general information purposes only. Any action taken by the reader regarding the information on our site is at his own risk.

Leave a Reply

Your email address will not be published. Required fields are marked *