FTX Reportedly Seeks To Acquire Celsius’ Assets

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Sam Bankman-Fried; Photo Source: Forkast

Reports state that Sam Bankman-Fried, CEO of FTX, is considering bidding on bankrupt crypto lender Celsius’ assets.

According to sources, FTX has now set its sights on Celsius, with the intent of bailing the latter out of bankruptcy. The news coincides with FTX’s plans of raising $1B in a private funding round. 

FTX’s acquisition of Celsius will allow the firm to enter more sectors of the crypto industry. This is because Celsius owns a Bitcoin mining firm, in addition to its crypto lending business. 

It is currently unknown whether FTX seeks to purchase some or all of Celsius’ assets.

Following these reports, the CEL token saw an increase in its prices. The token's prices spiked by 16%, with its 24-hour price-change up by 0.96%.

Interestingly, Ripple Labs also showed interest in acquiring Celsius’ assets back in August. The firm, however, has not provided any follow-up ever since.

FTX has been on a bailout spree for the last couple of months. In July, Sam Bankman-Fried provided $250M as a credit facility to BlockFi

A few days ago, FTX secured the winning bid for the auction of Voyager Digital's assets by out-bidding Binance and CrossTower. The exchange’s bid was valued at $1.422B. This includes $1.311B worth of Voyager’s crypto holdings and $111M as “additional consideration.”

Written by
Ayush Pande

Reports state that Sam Bankman-Fried, CEO of FTX, is considering bidding on bankrupt crypto lender Celsius’ assets.

According to sources, FTX has now set its sights on Celsius, with the intent of bailing the latter out of bankruptcy. The news coincides with FTX’s plans of raising $1B in a private funding round. 

FTX’s acquisition of Celsius will allow the firm to enter more sectors of the crypto industry. This is because Celsius owns a Bitcoin mining firm, in addition to its crypto lending business. 

It is currently unknown whether FTX seeks to purchase some or all of Celsius’ assets.

Following these reports, the CEL token saw an increase in its prices. The token's prices spiked by 16%, with its 24-hour price-change up by 0.96%.

Interestingly, Ripple Labs also showed interest in acquiring Celsius’ assets back in August. The firm, however, has not provided any follow-up ever since.

FTX has been on a bailout spree for the last couple of months. In July, Sam Bankman-Fried provided $250M as a credit facility to BlockFi

A few days ago, FTX secured the winning bid for the auction of Voyager Digital's assets by out-bidding Binance and CrossTower. The exchange’s bid was valued at $1.422B. This includes $1.311B worth of Voyager’s crypto holdings and $111M as “additional consideration.”

Written by
Ayush Pande