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Crypto Lending Firm Celsius Seeks Withdrawal of $784.7 Million Staked ETH from Lido Platform

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.

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