OPNX, a cryptocurrency exchange, has announced the upcoming rollout of several new features. First, they will introduce a new exchange token model that aims to solve historical alignment problems between users and exchanges by making traders stakeholder partners.

U.S. Bitcoin Corp. (USBTC) has acquired mining assets from bankrupt lender Celsius and plans to increase its computing power by 12.2 exahash/second (EH/s), making it one of the largest miners in the U.S. The acquisition includes a lending portfolio, crypto assets, and 121,800 mining machines, bringing USBTC's total to about 270,000 mining rigs. The company will also receive a $15 million annual management fee for the mining assets and will be the "exclusive operator" of the Celsius mining fleet. The acquisition is part of a consortium named Fahrenheit, which also includes Proof Group Capital Management, Steven Kokinos, and Ravi Kaza.

OPNX co-founder Mark Lamb and Vishal Shah, CEO of partnering firm Heimdall, have announced that their bankruptcy tokenization product will be available for Celsius users in a week. This product will allow users with frozen funds on defunct crypto platforms to unlock their underlying value.

Wall Street heavyweights Apollo Global Management and Fortress Investment Group are competing to buy bankrupt cryptocurrency lender Celsius Network. Each group is proposing to invest around $50 million to help restart Celsius under new management, with the aim of resuming some operations as a publicly traded company owned mostly by its creditors. The competition for Celsius could mean a higher payout to its creditors, including hundreds of thousands of customers who deposited their crypto with the company. Both groups are focused on increasing Celsius's crypto-mining business and processing and verifying transactions using customers' crypto holdings, but neither plans to immediately restart Celsius’s consumer lending business.

Wall Street investment giants are engaged in a bidding war for what remains of the now-bankrupt crypto lender Celsius Network.

The bankruptcy auction for Celsius Network is coming to a close, with a consortium of investors led by TechCrunch founder Michael Arrington's Arrington Capital and including Coinbase emerging as the top bidder for the bankrupt crypto lender's assets.

Celsius, the troubled crypto lender, has transferred almost $900 million worth of ETH over the past week. The company moved around $20 million of ETH to Wintermute OTC and Custody Withdrawals, and also transferred 30,800 ETH, worth around $57 million, to a smart contract called “Figment ETH2 Beacon Depositor 1”. Celsius also unstaked the $779 million of ETH it had with the liquid staking derivatives protocol, Lido. The withdrawn ether may be used as part of the platform's restructuring and creditor repayment plans.

Crypto lending firm Celsius is seeking to retrieve its staked Ether (ETH) from liquid staking platform Lido, which has enabled withdrawals. The firm has initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. The stash is valued at approximately $784.7 million at current prices. Once the withdrawal process is complete, Celsius will receive the equivalent in Ethereum and the stETH tokens will be burnt by Lido. However, larger numbers of Ether withdrawal requests from Lido will have an impact on the network withdrawal queue, which is a dynamic process.

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.

Crypto lender Celsius has moved its Ethereum staking tokens from Lido, which recently enabled withdrawals, according to on-chain data. The transfer of 428,015 stETH, worth $781m at the time, was made on 15 May. Some observers believe the move was in preparation for withdrawal. Celsius could be "lining up for staking directly without Lido in the middle", said Bitcoin pioneer and Celsius creditor Simon Dixon. Meanwhile, Lido accounts for 29% of all staked Ethereum, or 6.27 million ETH valued at around $11.3bn.