Celsius is Rebalancing its Crypto Assets

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Struggling crypto lending platform Celsius has confirmed that it is currently taking steps to regain control of its assets.

These actions include reclaiming and rebalancing its crypto holdings, specifically Ether, in preparation for timely distributions to its creditors.

In a recent statement, the company mentioned that it has begun shifting its assets to ensure sufficient liquidity and has also decided to unstake its Ethereum holdings, which have generated substantial rewards for the company.

These liberated ETH will be used to offset expenses related to the restructuring process and to facilitate prompt distributions to the affected parties.

For customers who have been waiting for over 18 months to receive their funds, this is encouraging news. As part of the recovery plan, Celsius has promised to distribute BTC and/or ETH to its creditors.