Celsius, the bankrupt lending firm, has transferred over $125 million worth of Ether to crypto exchanges in a bid to repay creditors, following a similar trend by FTX and Alameda Research.
Between January 8 and January 12, Celsius moved $95.5 million to Coinbase and $29.7 million to FalconX. Despite these transfers, Celsius still holds more than 550,000 ETH valued at around $1.36 billion.
This comes after Celsius unstaked 206,300 ETH, worth approximately $407 million, as part of its preparations for distributing assets to creditors.
FTX and Alameda Research also moved funds to centralized exchanges, with Celsius demanding users who cashed out over $100,000 in the 90 days preceding the bankruptcy to resolve their liabilities or face litigation.
The success of this clawback initiative, aiming to recover funds from private investors, remains uncertain but could set a precedent for similar recovery measures by struggling platforms.
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