**Celsius to Release $470M Worth of Ethereum for Creditor Payments**

Celsius, a crypto lending platform that filed for bankruptcy in 2022, has initiated the process of unstaking 206,300 ETH (amounting to $468.5 million) to distribute it among creditors. This move has sparked speculations in the market and raised concerns about the impact it may have on Ethereum’s value. Earlier, the platform had announced a shift in its strategy post-bankruptcy, focusing on Bitcoin mining, which was met with scrutiny. As Celsius takes significant steps towards repaying its creditors, the industry is closely observing the implications of this asset reallocation.

**Celsius Set to Unlock $470M Ethereum for Creditor Repayments Amid Bankruptcy**

Celsius, a crypto lending platform that has been undergoing bankruptcy proceedings since 2022, has begun the process of unstaking 206,300 Ethereum (equivalent to $468.5 million) to facilitate creditor repayments. This move has garnered attention and triggered discussions in the market regarding the potential impact on Ethereum’s market dynamics. Celsius had earlier announced a shift in its strategic focus to Bitcoin mining post-bankruptcy, which faced criticism. As Celsius takes a significant step towards repaying its creditors, the industry is closely monitoring the ramifications of this substantial Ethereum release.
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**FAQ**

Q: How much Ethereum is Celsius planning to unlock for creditor distributions?
A: Celsius plans to unstake 206,300 ETH, valued at $468.5 million.

Q: When did Celsius file for bankruptcy?
A: Celsius has been in bankruptcy court since July 2022.

Q: What was Celsius’s previous focus post-bankruptcy?
A: The platform had earlier announced a shift in focus to Bitcoin mining.

Q: What concerns have arisen regarding Celsius’s unlocking of Ethereum?
A: Some are concerned about the potential negative effect on Ethereum’s value due to a large amount of Ethereum being released into the market.

Q: What impact is Celsius’s asset shift expected to have on creditor repayments?
A: The unstaking of Ethereum is expected to facilitate the long-awaited distributions to creditors and offset restructuring costs for Celsius.