Embattled crypto lending platform Celsius has confirmed it has started recalling and rebalancing its crypto assets, including Ether, as it prepares for “timely distributions to creditors,” CoinTelegraph.com reported. The lending firm, which has been in bankruptcy court since its chapter 11 filing in July 2022, stated on Friday that it has begun shifting assets to “ensure ample liquidity” in preparation for any asset distributions. Celsius added that it will unstake its existing Ether holdings, “which have provided valuable staking rewards income to the estate.” The liberated Ether will be used to “offset certain costs incurred throughout the restructuring process” and “unlock ETH to ensure timely distributions to creditors,” it added.
