Cathie Wood's Ark Notes Ethereum Arbitrage Opportunity Amid Celsius-Induced Crypto Bloodbath

Benzinga2022-06-14

ZINGER KEY POINTSCelsius paused cryptocurrency withdrawals earlier, citing market conditions41% of the DeFi deployments by Celsius are in Lido's staked ETH product (stETH)stETH trading at significant ...

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Comments

YCLim
2022-06-15
YCLim
Nice
吉祥好運一帆風順
2022-06-14
吉祥好運一帆風順
🧐🤔
Kel9670ong
2022-06-14
Kel9670ong
Crypto are always belong to high risk high return
Hayz
2022-06-14
Hayz
U will see 5k$ ETH in 2 years
Shawrac
2022-06-14
Shawrac
Hmmmmmm
KYLeong
2022-06-14
KYLeong
Bottom fish?[Thinking]

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This, according to him, could be to fund withdrawal demands of the beleaguered platform’s customers.Downing noted that because Celsius and some other market participants have been selling, stETH is trading at a nearly 6% discount to ETH, creating an arbitrage opportunity for those investors willing to hold stETH until post-merge Ethereum allows withdrawals.Lido Staked ETH To USD/ETH — Courtesy CoinGeckoAt press time, a single stETH fetched approx 0.955 ETH, according to data from CoinGecko.The Lowdown:By pausing withdrawals, Celsius is hoping to buy time so that it can clear its outstanding debts and move out of risky positions but this could result in a worsening of market sentiment, which could dent cryptocurrency prices and invite more regulatory scrutiny, according to Downing.This view was also echoed by GlobalBlock’s Marcus Sotiriou, who pointed out that Celsius’ biggest problem was their $1.5 billion position in stETH, which if it leads to client redemptions could cause the lender to run out of funds.Sotiriou said Celsius was taking out massive loans to pay for redemptions but could run out of funds as early as 5 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are always belong to high risk high return","listText":"Crypto are always belong to high risk high return","text":"Crypto are always belong to high risk high return","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052452617","repostId":1149193369,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9052459806,"gmtCreate":1655206166006,"gmtModify":1676535582647,"author":{"id":"3576709204489965","authorId":"3576709204489965","name":"Hayz","avatar":"https://static.tigerbbs.com/d87598e3b13004920f673918b320782e","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3576709204489965","idStr":"3576709204489965"},"htmlText":"U will see 5k$ ETH in 2 years","listText":"U will see 5k$ ETH in 2 years","text":"U will see 5k$ ETH in 2 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fish?[Thinking]&nbsp;","listText":"Bottom fish?[Thinking]&nbsp;","text":"Bottom fish?[Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052482156","repostId":1149193369,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":98,"commentSize":11,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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