Celsius adds over 428K stETH to Lido’s lengthening withdrawal queue
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Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (
Tom Wan, a research analyst at 21Share, suggested that if unstaking requests exceeded 10%, it could cause a larger number of validator exits. This would potentially lead to longer queues for withdrawals.
The capital may be used as part of Celsius restructuring efforts or to partly repay some of its $4.7 billion debts to creditors.
In late February, the crypto lender converted 22,962 wrapped Bitcoin (WBTC) into Bitcoin (BTC) in a transaction valued at approximately $540 million at the time.
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