Celsius Unstakes Over $150 Million in Ethereum, Likely Selling to Fund Bankruptcy
• Celsius to unstake large amount of Ether (ETH), possibly reducing selling pressure on ETH prices • Celsius had previously said it would engage in ETH staking along with becoming a Bitcoin miner • Celsius selling ETH staking rewards to fund bankruptcy restructuring costs • Data shows Celsius has over $151 million worth of ETH staked, earning ~4-5% yields • Celsius sent 30,000+ ETH to custodians/exchanges last week, possibly to sell for stablecoins