The cryptocurrency lending platform Celsius, which has declared bankruptcy, plans to unlock $470 million worth of Ethereum (ETH).

The company intends to withdraw funds from Ethereum staking to cover its current expenses and settle debts with creditors. The unlocking of the coins will be done as part of a plan to revise digital assets, in anticipation of payouts to customers who have been waiting for their funds for 18 months.

According to Nansen data, Celsius owns 32% of the total staked Ethereum awaiting withdrawal. Also among the leaders in this regard is the company Figment, specializing in providing staking services for institutional investors. This organization plans to unlock 352,589 ETH with a total value of $791.4 million.