The sell-off comes before creditor distributions, which will exclusively be made in the two most widely used cryptocurrencies.
The troubled crypto lender has recently placed $745 million worth of ETH into staking contracts within the past 48 hours, further straining the already extensive waiting period for deploying new validators onto the Ethereum network.
The miner stands to earn up to $75 million in management fees for the Celsius mining rigs over a span of five years, making it a highly lucrative venture.
This move signifies one of the most substantial fund transfers conducted by Celsius Network since it sought bankruptcy protection in July.
A big worry is that the company hasn't said what it will do with the money from selling stablecoins.
By securing the winning bid of almost $1.4 billion for Celsius, FTX would be showing that it intends to save the loan company, just as it did with Voyager.
The crypto lending company plans to use the money from the sale to get cash and keep its business going.
U.S. Bankruptcy Judge Martin Glenn has approved a request to choose an examiner in the Celsius case as a result of a motion in August.
Celsius has asked for the release of $50 million from the total $225 million held in the Custody Program and Withhold Accounts.
The CEO of former staking and DeFi strategic partner KeyFi has been targeted by cryptocurrency lender Celsius. KeyFi had sued Celsius a week prior to its bankruptcy.