Bankrupt crypto lender Celsius Community despatched about $24 million value of altcoins to OKX and FalconX wallets within the early morning hours of June 17.
Knowledge from Arkham Intelligence exhibits that many of the funds had been despatched to a cryptocurrency brokerage agency, FalconX. The corporate obtained $8.46 million from Chainlink (LINK), $7.71 million from Synthetix (SNX), and $3.06 million from BNB.
Different property despatched to FalconX embrace $2.1 million value of 1INCH, $1.87 million in 0x protocol token ZRX, and FTX’s native token, FTT, value $718,000.
In the meantime, the bankrupt lender additionally transferred about $235,000 value of ShibaSwap’s BONES to the OKX alternate.
The transactions had been confirmed by blockchain investigator, Lookonchain, who added that FalconX laying altcoins on Binance.
The transactions look like on-chain proof that the lender needs to liquidate digital property for Bitcoin (BTC) and Ethereum (ETH) according to its current courtroom approval.
Celsius nonetheless holds over $180 million value of altcoins.
After current transfers, Dune analytics knowledge exhibits that Celsius nonetheless holds about $183 million value of altcoins, together with its CEL token, Polygon’s MATIC, Avalanche’s AVAX token, stablecoins, and others.
Celsius’ altcoin holdings are dominated by its CEL token, value $106.28 million on the time of writing.
On June 10, blockchain analytics agency Kaiko warned that Celsius could have hassle liquidating a few of its altcoins resulting from liquidity points. The corporate identified that liquidity for CEL is nearly non-existent and liquidations of different property may put stress on the crypto market.
In the meantime, the chart above exhibits that Celsius’ BTC and ETH holdings make up greater than $350 million in whole property in his portfolio.
The co-founder of Celsius faces a courtroom battle.
Amid Celsius’ efforts to liquidate its property, the bankrupt firm agreed to a $4.7 billion penalty with the Federal Commerce Fee (FTC) on July 13.
In the meantime, Celsius co-founder Alex Mashinsky additionally faces fees from US regulators, together with the Securities and Change Fee (SEC), which has alleged he violated federal securities regulation. Mashinsky was launched on $40 million bail after his July 13 arrest.
Different regulatory businesses, together with the US Division of Justice, the CFTC and the FTC, have additionally filed fees towards him.
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