🔥 Celsius transferred $125 million ETH to the exchanges.

Embattled crypto lender Celsius transferred $125 million worth of Ether to crypto exchanges last week amid plans to begin repaying creditors.

Between January 8 and January 12, Celsius transferred $95.5 million to Coinbase and $29.7 million to FalconX, according to Arkham Intelligence data.

But Celsius still has more than 550,000 ETH on his books; that number was valued at a staggering $1.36 billion at the time of publication.

On January 5, Celsius moved to buy back 206,300 ETH, valued at $407 million at the time; The lender claimed that the newly released Ether would be used to pay costs incurred throughout the restructuring process and prepare to repay creditors.

Celsius announced that it would distribute #Bitcoin .

#Bitcoin and #ETH will be given to creditors in the rescue plan, but a specific date when creditors will start receiving funds has not yet been specified.

#Celsius creditors have been waiting more than 18 months to receive remaining funds on the platform since the company first declared bankruptcy in July 2022.

Transferred Funds to #FTX and Alameda Stock Exchanges

Celsius wasn't the only embattled firm to move crypto assets to exchanges recently.

Bankrupt crypto exchange FTX and its defunct trading arm Alameda Research made their own move, transferring $28 million worth of crypto to exchanges on Jan. 14, according to data from blockchain analytics platform SpotOnChain.

Transfers to Coinbase and Binance exchanges included $18.7 million worth of Wrapped Bitcoin, $8 million worth of Ether, and $1 million worth of Pendle (PENDLE).

After FTX and Alameda Research declared bankruptcy in November last year, FTX attempted to raise funds to repay creditors. FTX managers successfully recovered approximately $7 billion in assets, along with a significant $3.4 billion worth of cryptocurrency.