This summary text is fully AI-generated and may therefore contain errors or be incomplete.
An Ethereum whale, who had been inactive for five years, recently deposited 39,260 ETH worth $87.5 million to the crypto exchange Kraken. This investor had received 47,260 ETH worth $11.34 million back in 2017 and sold 8,000 ETH the following year. If the whale sold its holdings on Kraken, it could have made a profit of approximately $78 million. In addition, an address associated with the failed crypto lending platform Celsius transferred 7,500 ETH worth $16.7 million to the institutional crypto trading platform FalconX. Celsius has sent a total of 37,260 ETH worth $83 million to FalconX, Coinbase, and OKX in the past three weeks. Celsius filed for bankruptcy in July 2022 and recently had a bankruptcy plan approved to generate funds for a new mining and staking corporate spinoff called “NewCo.” This new company will have a $1.25 billion balance sheet, with $450 million in liquid crypto.