According to the Dune analytics dashboard, Celsius still has altcoins worth over $183 million.
In an intriguing turn of events, during the early hours of June 17, wallets connected to cryptocurrency brokerage company FalconX and exchange platform OKX received over $24 million worth of cryptocurrencies from bankrupt crypto lender Celsius Network.
Altcoin Transfers to FalconX and OKX Wallets
The majority of the monies, according to data from Arkham Intelligence, were sent to FalconX. A significant amount was sent to the brokerage company, consisting of $8.46 million in Chainlink (LINK), $7.71 million in Synthetix (SNX), and $3.06 million in BNB.
Additional assets provided to FalconX were 1INCH for $2.1 million, ZRX worth $1.87 million from 0x Protocol, and FTT, the native token of FTX, valued $718,000 in total. Additionally, Celsius transferred BONE from ShibaSwap for about $235,000 to the OKX exchange.
Blockchain analyst Lookonchain confirmed the transactions and highlighted that FalconX was putting the altcoins into Binance.
Celsius Holds Significant Altcoin Assets
The CEL token, MATIC from Polygon, AVAX from Avalanche, stablecoins, and other assets are among the altcoins that Celsius Network still holds, according to data from Dune Analytics, despite the latest transfers.
The majority of Celsius’s altcoin holdings are made up of its CEL token, which is now worth $106.28 million. These huge stakes demonstrate the lender’s significant market presence in the alternative cryptocurrency space.
Celsius Co-founder Faces Legal Battle
Although Celsius Network wants to sell its assets, there are several obstacles in the way on the legal front. The business and the Federal Trade Commission (FTC) recently came to an arrangement, and on July 13 the firm will pay a $4.7 billion punishment.
Additionally, the Securities and Exchange Commission (SEC) and other regulatory bodies are bringing accusations against Celsius co-founder Alex Mashinsky. Mashinsky allegedly broke federal securities legislation, according to the SEC. Mashinsky was detained on July 13 and is now out on bail after posting $40 million. Charges against him have also been brought by the FTC, the CFTC, and the US Department of Justice.
The complicated and intriguing nature of the case is further increased by the continuing legal disputes surrounding Celsius Network and its co-founder.