Bankrupt crypto lender Celsius Community despatched round $24 million price of altcoins to OKX and FalconX wallets within the early hours of June 17.
Arkham Intelligence Information present that the majority of the funds had been despatched to 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 from 1INCH, $1.87 million ZRX token from 0x Protocol, and $718,000 native FTX token, FTT.
In the meantime, the bankrupt lender additionally transferred roughly $235,000 of BONE from ShibaSwap to the OKX trade.
The transactions had been corroborated by blockchain investigator Lookonchain, who added that FalconX was to file altcoins at Binance.
The transactions look like on-chain proof that the lender is looking for to liquidate Bitcoin (BTC) and Ethereum (ETH) digital property in accordance with its latest court docket approval.
Celsius nonetheless holds over $180 million price of altcoins.
Following the latest transfers, analytics information from Dune reveals that Celsius nonetheless holds round $183 million price of altcoins, together with its CEL token, Polygon’s MATIC, Avalanche’s AVAX token, stablecoins and others.
Celsius’ altcoin holding is dominated by its CEL token, price $106.28 million on the time of writing.
On June 10, blockchain analytics agency Kaiko warned that Celsius might wrestle to liquidate a few of its altcoins as a result of liquidity points. The corporate highlighted how liquidity for CEL is nearly non-existent and the way liquidations of different property may put strain on the crypto market.
In the meantime, the chart above reveals that Celsius’ BTC and ETH holdings make up over $350 million of its whole portfolio property.
The Celsius co-founder is dealing with a authorized battle.
Amid Celsius’ efforts to liquidate its property, the bankrupt firm agreed to a $4.7 billion positive with the Federal Commerce Fee (FTC) on July 13.
In the meantime, Celsius co-founder Alex Mashinsky can also be dealing with expenses from US regulators, together with the Securities and Alternate Fee (SEC), which alleged he violated federal securities legislation. securities. Mashinsky is free on $40 million bail following his July 13 arrest.
Different regulators, together with the US Division of Justice, the CFTC and the FTC, have additionally filed complaints towards him.
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