Celsius moved $529M worth of wBTC to FTX exchange: Should we be worried?

CointelegraphPublicado em 2022-07-08Última atualização em 2022-07-08

Resumo

Embattled lending platform Celsius has transferred nearly 25,000 Wrapped Bitcoin (wBTC), worth $528.9 million to crypto exchange FTX.

Embattled lending platform Celsius has transferred nearly 25,000 Wrapped Bitcoin (wBTC), worth $528.9 million to crypto exchange FTX, prompting concerns from some in the community about whether a dump may soon follow.
The huge transfer to the exchange comes after the lending platform paid off its remaining $41.2 million of debt to Maker (MKR) protocol, freeing up its loan’s entire wBTC collateral.
However, the community is unsure what to make of the transfer, with some fearing that a dump of the wBTC on the exchange could soon follow, pushing Bitcoin prices down.
Others have been more hopeful that the move may be in preparation for Celsius to swap their wrapped Bitcoin for BTC, which may be a good sign for depositors who’ve been hoping for Bitcoin withdrawals to eventually reopen on the Celsius platform. Bitcoin is up 8% in the past 24 hours to trade above $22,100, suggesting market participants are taking the news in their stride.
The 21,962 WBTC unlocked from paying off the remaining DAI loan has already found its way to FTX...
that didn't take long...
Incoming $BTC dump? https://t.co/A9B9YaLQ1W #CelShortSqueeze = #CelPumpAndDump
Not your keys, not your crypto pic.twitter.com/V2edblhmXZ
— Airdawg (@Colwellinvestor) July 7, 2022
The 25,000 wBTC sent to FTX follows the news earlier today that 150,000 BTC may be potentially released into the market as Mt.Gox creditors get their BTC back after an eight-year wait.
So far, both Celsius and CEO Alex Mashinsky have remained radio silent about any movement of funds.
Crypto lawyer Joni Pirovich, Principal of Blockchain & Digital Assets told Cointelegraph on July 7 that Celsius’ repayment of its loan position with Maker will ultimately assist its customers.
“Maker protocol relies on overcollateralized loan positions, so the loan repayment of US$41 million worth of DAI released 21,962 WBTC of capital which is now available to meet customer withdrawal requests.”
Pirovich added that even if Celsius ends up filing for bankruptcy, that repaying the loan position and withdrawing collateral could improve the position of customers.
“The question is what will Celsius do with the withdrawn collateral? Keep it in reserve for customers or risk it to trade and on-lend.”

Leituras Relacionadas

How to Do Research Well: Deliberately Practice the Real Skills That Matter

No one truly teaches you how to do research. You're often given a desk, a pre-selected problem, and vague instructions to "create something new." Consequently, many people reverse-engineer the job based on visible outputs—papers, posts, announcements—learning only how to *appear* like a researcher rather than how to *become* one. True research capability is built from stacking small, trainable skills, nearly all of which can be developed through deliberate practice. **Pick Your Own Problem:** Most researchers absorb problems from advisors or trends, lacking the underlying reasoning. Choosing a problem you genuinely care about, as John Schulman advises, leads to original work. Develop "taste" like a muscle: predict experiment outcomes, guess paper results from methods, and track which findings remain important over time. **Upgrade Your Inputs:** Relying on shared reading lists (arXiv hot lists, filtered group chats) leads to unoriginal conclusions. Undervalued old literature often holds crucial insights (e.g., MoE, LSTM, backpropagation). Richard Sutton's "The Bitter Lesson" or Claude Shannon's 1952 talk on creative thinking are more predictive than lengthy modern surveys. Breadth matters as much as depth: draw from neuroscience, mechanism design, hardware knowledge, and honest statistics. Read papers directly, especially appendices and limitations sections. **Write Everything Down:** As Paul Graham noted, writing exposes flaws in seemingly mature ideas. Writing is the cheapest defense against self-deception. Following Feynman's principle, Darwin programmatically wrote down facts contradicting his theory to combat memory bias. Maintain a detailed log of hypotheses, setups, predictions, results, and updated understandings. Reviewing past logs fosters essential humility.

marsbitHá 6m

How to Do Research Well: Deliberately Practice the Real Skills That Matter

marsbitHá 6m

Backpack Surges Over 150% in Half a Month

BP, the token of the Backpack exchange, has surged over 150% since early June, driven by the platform's expansion into regulated US stock brokerage and asset tokenization services. On June 2nd, Backpack announced Backpack Securities, offering traditional stock trading and tokenization, causing BP's price to jump over 80%. Momentum continued on June 12th with the launch of SPCX, a tokenized product for SpaceX stock on Solana, facilitating seamless conversion between traditional securities and on-chain assets. This aligns with the RWA (Real World Assets) narrative, creating a bridge between traditional finance and Solana DeFi. The token's unique economics also support its growth. All 2.5 billion initially circulating tokens were airdropped to the community, with zero allocation to the team or investors at launch. A key feature allows users who stake BP for at least one year to gain the right to convert tokens into company equity upon an IPO or acquisition. Despite some initial community controversy over airdrop distribution, focus is shifting to BP's long-term utility and value alignment as real products launch.

marsbitHá 21m

Backpack Surges Over 150% in Half a Month

marsbitHá 21m

Following US Ban on Fable 5, Zhipu AI's Stock Soars 47%

On June 15th, shares of Zhipu AI surged dramatically on the Hong Kong stock market, peaking at a 47.6% gain before closing 32.82% higher. This sharp increase was directly triggered by two recent industry events. On June 12th, Anthropic announced it was suspending global access to its latest flagship models, Claude Fable 5 and Claude Mythos 5, to comply with a U.S. government export control order. The next day, Zhipu AI announced it would open access to its latest open-source flagship model, GLM-5.2, under the permissive MIT license. The Anthropic incident highlighted a critical issue beyond raw model capability: the risk of sudden, unpredictable loss of access to advanced AI models, especially for developers and enterprises deeply integrated with them. This has shifted industry and market focus toward factors like stability, sustainable access, and controllability. Zhipu's move, promoting "frontier intelligence for all," positions its openly available model as a reliable and accessible alternative. The GLM-5.2 model emphasizes "Long Horizon Task" capabilities with a 1M context window, targeting complex, multi-step coding and engineering workflows where maintaining context is crucial. Analysts note this event exposes the risk of dependency on closed-source models subject to single jurisdictional controls, potentially accelerating a shift toward domestic base models and localized deployments. The market's reaction signals a new valuation dimension in AI: providers who can offer stable, long-term, and sustainably accessible AI capabilities are gaining strategic importance.

marsbitHá 30m

Following US Ban on Fable 5, Zhipu AI's Stock Soars 47%

marsbitHá 30m

Fully Entering the AI Era: Alipay Bets on Conversation, WeChat Holds Fast to Social

In May 2026, Alipay announced over 300 million AI payment transactions. Shortly after, WeChat opened its mini-programs for AI integration, sparking controversy by requiring developer source code access. This highlights their diverging approaches to AI integration. Alipay is testing "Project Treasure," an optional AI-native interface replacing traditional app grids with a conversational window. Users can command complex tasks (e.g., "book a ride and order coffee") handled end-to-end by AI. This shift follows an abandoned standalone AI app, focusing instead on enhancing its existing user base. For unmodified mini-programs, Alipay's AI uses "screen-reading" to simulate user interactions, bypassing the need for developer overhaul. It also introduced "Token Pay" for micro-transactions and "AI Wallets" for autonomous agent spending. WeChat, prioritizing its core social function, is taking an embedded approach. Its AI agent will operate within existing contexts like group chats and official accounts, assisting without a separate interface. To enable this, WeChat offers developers two paths: granting source code access for direct AI control ("Automatic Mode") or manually encapsulating services into standardized "Skills." Both place significant burden on developers. Key differences emerge in handling legacy services: WeChat demands developer cooperation (code or labor), while Alipay's screen-reading offers immediate, if potentially less stable, compatibility. Alipay's 3 billion AI transactions demonstrate user acceptance of AI-driven commercial actions. The divergent strategies may reshape mini-program ecosystems—Alipay passively "AI-fying" services, WeChat potentially favoring resource-rich developers—and set competing technical standards. Ultimately, the competition centers on where users entrust the command to "help me get things done."

marsbitHá 31m

Fully Entering the AI Era: Alipay Bets on Conversation, WeChat Holds Fast to Social

marsbitHá 31m

Supply Chain, Energy, and Bloc Formation: Untangling the Core Threads of 2026 AI Investment

The core thesis for 2026 investment is a shift from traditional growth-inflation analysis towards a geopolitical framework of strategic blocs, supply chain reconfiguration, and capital expenditure (capex) direction. The US is moving from a global guarantor role towards a more bounded "camp system," reshaping trade, security, and technology flows. Key investment themes emerge from this realignment: production-capable US-aligned economies (e.g., Japan, South Korea), regional security focusing on Latin America, and the hard constraint of energy/grid capacity enabling reshoring. Europe's strength lies not in macro growth but in its high-quality "pick-and-shovel" industrial, electrical, and automation exporters serving the global capex cycle. AI remains the central US-China strategic battleground, driving massive investment in compute, power, and manufacturing stacks, with robotics gaining prominence. The investment implication is a rotation away from crowded US mega-cap tech momentum toward global beneficiaries of this restructuring: electrification equipment, industrial automation, energy storage, grid infrastructure, and select non-US markets. 2026 will be defined by investment intensity driven by geopolitical repositioning, not near-term commercial maturity.

marsbitHá 1h

Supply Chain, Energy, and Bloc Formation: Untangling the Core Threads of 2026 AI Investment

marsbitHá 1h

Trading

Spot

Futuros