Breaking 400, we can say hello to the digital currency season#etf #Poloniex #BTC #ETH #Celsius

Standard Chartered’s SC Ventures and SBI Holdings plan to invest $100 million in crypto startups.They aim to invest globally, covering seed to Series C funding rounds.SC Ventures, the investment arm of the Standard Chartered bank, and SBI Holdings, the Japanese financial conglomerate, have partnered to set up a $100 million crypto vehicle in the United Arab Emirates.The vehicle, in the form of a joint venture, plans to invest in crypto across areas such as decentralized finance, tokenization, infrastructure, payments and the metaverse, the two companies said Thursday. It aims to invest globally, covering seed to Series C funding rounds. The news comes with crypto markets showing signs of recovery, hinting at potentially bullish sentiment. Bitcoin is currently trading at about $36,800, marking a year-to-date gain of over 120%. Spot crypto trading volume on centralized exchanges also increased in October following four months of decline. If those metrics point to renewed interest in crypto, it is likely in anticipation of a spot bitcoin ETF approval early next year.'Strategic and minority investments'The SC Ventures and SBI Holdings joint venture plans to make "strategic and minority investments" in crypto startups, said Alex Manson, CEO of SC Ventures, in a statement. "The Joint Venture will leverage SC Ventures' experience in digital assets through our ventures, such as Zodia Custody and Zodia Markets, and through our investments in fintechs like Ripple and Metaco," he added.In May, SC Ventures exited its stake in Metaco as Ripple acquired it for $250 million. Meanwhile, SC Ventures and SBI Holdings have previously invested in the same startups, including Solv, Zodia Custody and myZoi.SBI Holdings is also launching a separate fund by the end of this year to invest up to 100 billion yen ($663 million) in web3, AI, and fintech startups, as reported by Nikkei today. Japanese financial giants Sumitomo Mitsui Banking Corporation, Mizuho Bank, Nippon Life Insurance, and Daiwa Securities Group have reportedly already decided to invest more than 50 billion yen in the fund.#ETF #Poloniex #EthereumETF #BTC🔥🔥 #Celsius

Celsius, a once-prominent crypto lending platform now mired in bankruptcy, has made a significant move by transferring approximately $1 billion worth of Ethereum ($ETH ) to various centralized exchanges. This large-scale transfer has ignited speculation that Celsius may be gearing up to start repaying its creditors as part of its bankruptcy proceedings.
Pivotal Aspects of Celsius's Ethereum Movement
Massive Transfer of Ethereum:
Celsius moved a colossal amount of 443,961 ETH($ETH ) to exchanges like Coinbase Prime, Paxos, and FalconX. This series of transactions took place over January 25 and 26, with the largest single transaction involving 443,961 ETH, equivalent to about $984 million at the time of transfer.
Speculations on Repayment Plans
There is growing speculation that these transfers are a precursor to Celsius beginning repayments to its creditors. The platform has previously indicated that a limited number of corporate accounts might recover cryptocurrency through Coinbase, while distributions to U.S.-based non-corporate accounts are expected to be made via PayPal and for those outside the U.S. through Coinbase.
Ongoing Bankruptcy Proceedings:
Celsius filed for bankruptcy in July 2022 and has since been engaged in a complex restructuring process. The platform's administrators had earlier indicated their intent to notify certain account holders who withdrew substantial amounts before the bankruptcy declaration that they might need to return these funds.
Implications for the Crypto Market
Market Response to the Transfer:
While $ETH prices have remained relatively stable, there's concern about how such large transfers could impact the market, especially considering the current market conditions and the scale of the assets involved.
Creditor Expectations:
The Celsius creditors, are keenly observing these developments, with expectations that repayments could commence as early as mid-February. However, the exact timelines for these distributions are still unclear.
Remaining Assets:
Despite these significant transfers, Celsius reportedly still holds a substantial amount of ETH, valued at nearly $139 million, which could play a role in future creditor repayments.
Final Thoughts:
Celsius's transfer of $1 billion in Ethereum to exchanges is a critical development in its ongoing bankruptcy proceedings. It not only signals potential preparations for repaying creditors but also highlights the ongoing challenges and complexities within the crypto lending market. As the situation unfolds, the crypto community and investors are closely watching for further actions by Celsius, which could have broader implications for the market and the treatment of digital assets in bankruptcy scenarios

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