Celsius Moves $74.3M in ETH to Staking Service Figment
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Celsius Network, which recently filed for Chapter 11 bankruptcy in July last year, has transferred 40,928 ETH (about $74.37 million) to institutional-oriented staking service Figment.
The transfer was recorded in Arkham Intelligence in a series of 14 transactions spanning from May 10 to May 12.
This is one of the firm’s largest transfers since their bankruptcy filing.
The move will allow Celsius to generate income during their restructuring, as the staking service’s website advertises an average reward of 5.6% per annum.
In the past, the crypto lending platform has launched similar services with $289.5 million under management.
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