Cryptocurrency lending platform Celsius continues to send coins to exchanges after the bankruptcy plan was approved.
Blockchain analysis platform Lookonchain to share According to Celsius, cryptocurrency trading platform FalconX at night 7,500 Ethereum (ETH) worth $16.7 million sent.
Celsius filed for bankruptcy in July 2022. Under the plan approved by the court a few weeks ago, the company will be structured as a cryptocurrency mining and staking company under the name NewCo.
It is assumed that the company sells the cryptocurrencies it sends to exchanges in order to provide capital during this transition period. The court allowed Celsius to sell cryptocurrencies as of July.
Celsius owed approximately $5 billion to its creditors at the time it filed for bankruptcy. The restructuring plan also includes paying back some of the money to creditors.
According to Lookonchain data, Celsius has accessed Coinbase, FalconX and OKX platforms in the last 21 days. 37,260 ETH worth $83 million sent.