Bitfinex to Support the Celo Transition to Ethereum Layer 2 (L2)

We are pleased to announce that Bitfinex will support Celo's (CELO) transition from a Layer 1 (L1) to an Ethereum Layer 2 (L2) built on the OP Stack which Celo previously announced.

Celo is planning the transition to take place on 26/03/2025 at approximately 03:00 AM UTC at block height 31056500.

To support the transition, deposits and withdrawals of CELO L1 tokens, i.e. CELO and Tether tokens (USDt) on the CELO L1 network (API: TETHERUSDTCELO), will be temporarily suspended from 25/03/2025 at approximately 05:00 AM UTC. Deposit and withdrawal services are expected to resume after the transition, once the CELO L2 network is deemed to be stable. Trading of CELO will not be affected.

Bitfinex intends to replace the balances of CELO L1 tokens on the Bitfinex platform with balances of CELO L2 tokens at a 1:1 ratio. If you do not wish to have your CELO L1 token balances replaced with the CELO L2 token balances, you must withdraw your CELO L1 tokens prior to the closure of CELO L1 withdrawals specified above.

Our customers can monitor the deposit and withdrawal status here. 

More details about the Celo transition can be found at https://forum.celo.org/t/returning-home-to-ethereum-the-launch-of-celo-l2-mainnet/10466.

Important Note:

This announcement is not an offer to sell or a solicitation of an offer to buy CELO token or any other cryptocurrency. Any purchase or sale of any cryptocurrency on Bitfinex will occur solely pursuant to the Terms of Use for Bitfinex at https://www.bitfinex.com/legal/exchange/terms/

Forward-Looking Statements

Certain statements in this announcement may be forward-looking in nature. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of Bitfinex nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.