The troubled cryptocurrency lender Celsius looks to be moving its Ethereum staking tokens as soon as possible from the liquid staking platform Lido, which has just made withdrawals possible.
Move by Cryptocurrency lender Celsius: It Moves $781 Million to stETH as Lido Withdrawals Begin!
A transaction for 428,015 stETH (Lido staked Ether) to the Lido staked Ethereum wallet was discovered on Celsius wallets on May 15. Some people think the massive stash was transferred in anticipation of withdrawal because it was worth $781 million at the time. A few hours later, according to on-chain evidence, Celsius tested a withdrawal of 0.1 stETH.
Simon Dixon’s Statements
Simon Dixon, a pioneer of Bitcoin and a creditor of Celsius, claims that Celsius may be “lining up for staking directly without Lido in the middle.” He noted that it might also serve as loan collateral for Celsius’s reorganization efforts.
Arkham Intelligence’s Data
A smart contract called “Figment ETH2 Beacon Depositor 1” received a 40,928 ETH payment from Celsius last week, according to blockchain intelligence company Arkham Intelligence. On May 12, according to Etherscan, this was transferred to the Ethereum Beacon Chain deposit contract.
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