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Celsius Withdrawal Jam

How mass withdrawals could spell trouble for LSTs

Jack Inabinet
Jan 5, 2024 • 1 min read

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Celsius has jammed Ethereum’s validator withdrawal queue shut for the next 14 days, the longest delay since the queue cleared out for the first time post-Shapella in October! Are liquid staking tokens (LSTs) now flirting with a risk of depeg?

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.