Celsius moves $781M in stETH just as Lido withdrawals open

It appears that embattled crypto lending institution Celsius is squandering no time in moving its Ethereum staking tokens from liquid staking platform Lido, which has simply enabled withdrawals.On May 15, a transaction was identified on Celsius wallets for 428,015 stETH (Lido staked Ether) to the Lido staked Ethereum wallet. It could likewise be loan security for Celsius restructuring strategies, he added.428 k #Celsius $stETH on the move – likely lining up for staking directly without #LIDO in the middle. Should get an update during court hearing this week – 17th May – No court approval needed for this it appears https://t.co/pwT4fR1Qjt https://t.co/4tdSsMegA8— Simon Dixon (@SimonDixonTwitt) May 15, 2023

Blockchain intelligence company Arkham Intelligence highlighted that Celsius moved 40,928 ETH last week to a wise agreement called “Figment ETH2 Beacon Depositor 1″.” Lido V2 presents two significant components, with the most user-facing element being Ethereum withdrawals.