2023-05-16
Celsius Network, despite its recent announcement of dissolution, has transferred over $75 million worth of Ether to the Staking platform through Figment. Figment is an institutional-grade Staking platform.
According to Arkham Intelligence, Celsius transferred a total of 40,928 ETH in 14
transactions between May 10th and May 12th, 2023. These transactions were sent
to the Figment wallet and subsequently deposited into the Staking contract.
This
transfer is considered a significant transaction for Celsius, given their
recent announcement of dissolution. Celsius has been one of the platforms
affected by the collapse of Terra.
The funds
transferred to the Staking contract are part of Celsius' plan to recover and
rebuild its business. The Staking rewards for these funds are expected to be
approximately 5.6% per annum.
