{"id":21004,"date":"2023-05-16T19:11:08","date_gmt":"2023-05-16T19:11:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/celsius-unstakes-millions-of-dollars-worth-of-eth\/"},"modified":"2023-05-16T19:11:08","modified_gmt":"2023-05-16T19:11:08","slug":"celsius-unstakes-millions-of-dollars-worth-of-eth","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/celsius-unstakes-millions-of-dollars-worth-of-eth\/","title":{"rendered":"Celsius unstakes millions of dollars\u2019 worth of ETH"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1655282790427-402b063e-5cac-449e-ba0e-c983bb01ee22-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1655282790427-402b063e-5cac-449e-ba0e-c983bb01ee22-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1655282790427-402b063e-5cac-449e-ba0e-c983bb01ee22-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/06\/1655282790427-402b063e-5cac-449e-ba0e-c983bb01ee22-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">The total value of the stETH tokens that Celsius is trying to withdraw is roughly $437.7 million.\u00a0<\/li>\n<li>The company still holds an additional 188,000 stETH tokens, worth about $342 million.<\/li>\n<li>Celsius filed for bankruptcy in 2022<\/li>\n<\/ul>\n<p dir=\"ltr\">Celsius Network, a cryptocurrency lending platform that filed for bankruptcy amid the crypto winter, is unstaking millions of dollars\u2019 worth of ether (<a href=\"https:\/\/coinjournal.net\/news\/tag\/eth\/\">ETH<\/a>).<\/p>\n<p dir=\"ltr\">The funds being unstaked are currently held as staked ether tokens on Lido Finance, a decentralized finance (DeFi) platform that allows users to stake ETH and earn rewards. Lido Finance enabled withdrawals of staked ETH as part of an upgrade this week.<\/p>\n<h2 dir=\"ltr\">Celsius withdrawing staked ETH<\/h2>\n<p dir=\"ltr\">Once withdrawn, Celsius will receive the underlying ETH in exchange for the stETH tokens. <a href=\"https:\/\/etherscan.io\/address\/0x4A87EcDfb459eb36d25226D9CCd7Ec4f684AB3Fc#tokentxns\" rel=\"noopener noreferrer\" target=\"_blank\">Blockchain data<\/a> indicates that Celsius has initiated withdrawal requests for 240,000 stETH worth roughly $437.7 million, with an additional 188,000 stETH tokens, worth about $342 million, remaining.<\/p>\n<p dir=\"ltr\">It is likely Celcius will use the withdrawn ETH as part of its restructuring and creditor repayment efforts, with creditors owed $4.7 billion.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/celsius-unstakes-millions-of-dollars-worth-of-eth\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) The total value of the stETH tokens that Celsius is trying to withdraw is roughly $437.7 million.\u00a0 The company still holds an additional 188,000 stETH tokens, worth about $342 million. Celsius filed for bankruptcy in 2022 Celsius Network, a cryptocurrency lending platform that [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21004"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21004"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21004\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21005"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}