Celsius moves altcoins to new wallets in preparation for Bitcoin and Ethereum conversion
Bankrupt crypto financier Celsius Network moved about $70 million worth of altcoins on July 5 following a recent court approval to sell Bitcoin (BTC) and Ethereum (ETH). .
data from Arkham Intelligence The lender has moved millions of altcoins and stablecoins into separate wallets, including wallets associated with crypto market maker Wintermute, crypto custodian Fireblocks, and stablecoin issuer Paxos. made it clear.
The altcoins transferred include Chainlink, Polygon, Synthetix, Avalanche, etc., while the stablecoins involved in the transaction include Binance USD (BUSD), USD Coin (USDC), etc. The company has also moved some ETH and WBTC tokens between related wallets.
On June 30, Judge Martin Green approved Celsius’ plan to sell all altcoins for the top two digital assets. At the time, a judge ordered the company to use reasonable efforts to maximize the value of these altcoins.
Meanwhile, Arkham Intelligence’s dashboard shows Celsius has $614.28 million worth of crypto assets in its wallet. Holdings of BTC and ETH account for over $400 million in assets, with approximately $100 million worth of CEL native tokens.
Post Celsius moves altcoins to new wallets in preparation for Bitcoin to Ethereum conversion. First appeared in CryptoSlate.
