Cryptocurrency News

Celsius moved $529M worth of wBTC to FTX exchange: Should we be worried?

07/08/2022

Less than a minute

2022.07.08 09:15

Celsius moved $529M worth of wBTC to FTX exchange: Should we be worried?

Embattled lending platform Celsius has transferred nearly 25,000 Wrapped Bitcoin (wBTC), worth $528.9 million to crypto exchange FTX, prompting concerns from some in the community about whether a dump may soon follow.

The huge transfer to the exchange comes after the lending platform paid off its remaining $41.2 million of debt to Maker (MKR) protocol, freeing up its loan’s entire wBTC collateral.

07/08/2022

Less than a minute

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