In today’s briefing:
- Celsius Liquidations Could Pressure Altcoin Markets
Celsius Liquidations Could Pressure Altcoin Markets
- Last week, bankrupt crypto lender Celsius gained court approval to convert its altcoin holdings into more liquid BTC and ETH as part of its restructuring plan.
- The company has reportedly moved some of its holdings to market maker Wintermute and stablecoin issuer Paxos.
- As of end-March, Celsius held more than $2B in BTC, ETH and stETH and a mixed bag of liquid and illiquid altcoins, including $240mn of its own CEL token.
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