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Celsius Network Withdraws Over $800 Million in stETH from Lido Finance's V2 Update Wallet

According to data from Arkham Intelligence, Celsius Network transferred over 428,083.6 stETH, worth more than $800 million, to a wallet used for unstaking from Lido Finance on May 16. The wallet address is "0x4A87EcDfb459eb36d25226D9CCd7Ec4f684AB3Fc". Celsius is currently undergoing bankruptcy proceedings and owes creditors around $4.7 billion. The withdrawn stETH was moved to a different wallet address, and it is unclear whether Celsius will use the proceeds to finance its restructuring and creditor repayments or re-stake it with a different platform.

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