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.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
Unlock research summaries
Follow top, independent analysts
Receive personalised alerts
Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.