Is it time to get concerned? Embattled lending platform Celsius has transferred nearly 25,000 Wrapped Bitcoin to crypto exchange FTX, prompting worries that a dump may soon follow.
Embattled lending platform Celsius has transferred nearly 25,000 Wrapped Bitcoin , worth $528.9 million, to crypto exchange FTX, prompting concerns from some in the community about whether a dump may soon follow.$41.2 million of debt to Maker protocol, freeing up its loan’s entire wBTC collateral.
However, the community is unsure what to make of the transfer, with some fearing that a dump of the wBTC on the exchange could soon follow, pushing Bitcoin prices down. Others have been more hopeful that the move may be in preparation for Celsius to swap their Wrapped Bitcoin for BTC, which may be a good sign for depositors who’ve been hoping for Bitcoin withdrawals to eventually reopen on the Celsius platform. Bitcoin is up 8% in the past 24 hours to trade above $22,100, suggesting market participants are taking the news in their stride.that didn't take long...
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