Bankrupt crypto lending platform Celsius Network (CEL) transferred a large amount of altcoins to exchanges.
Celsius, which applied for bankruptcy protection last year and survived bankruptcy by receiving approval from the court for repayment, sent a large amount of altcoins to cryptocurrency exchanges. Reported by on-chain analysis platform Lookonchain to data according to 29 November Celsius-related 2 addressesin total $62 million altcoin moved it.
Among the $62 million worth of altcoins transferred by the company $41.5 million worth 20,286 Ethereum (ETH), 10 million USD Coin (USDC), 3 million dollars worth 208,322 Chainlinks (LINK), 1.93 million Gemini Dollar (GUSD), $1.56 million worth 780 PAX Gold (PAXG), $1.56 million worth 2.09 million Poylgon (MATIC) took place.
Celsius hosted a similar transfer on November 28. FalconX via cryptocurrency exchange $10.12 million to Binance worth 5,000 ETH he had conveyed.
It is thought that the crypto credit platform made these transfers for sales purposes and will use the income from the sale to pay its creditors.