FTX’s CEO Reveals How They Will Approach Celsius' Auction

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Sam Bankman-Fried; Photo Source: The New York Times

Addressing Simon Dixon's Tweets, Sam Bankman-Fried disclosed how FTX would place bids on Celsius’ assets.

On Sunday, Simon Dixon, CEO of BnkToTheFuture, called out the users whose crypto assets are stuck on Celsius via Twitter. According to him, external investors will not be able to maximize recovery for the creditors.

Alluding to FTX winning the auction to purchase Voyager's assets, Simon claimed that the exchange has raised $32B to buy Celsius for “cents on the dollar.” 



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He also added that Nexo and Binance are potential bidders in Celsius’ auction, and no bailout could recover the funds currently frozen on Celsius. 

In response, Sam Bankman-Fried clarified that contrary to Simon’s allegations, FTX’s bids for Voyager’s assets were based on market price. He stated that acquiring Voyager for cheap wasn’t the firm’s goal, adding, 

“The goal isn't to make money buying assets at cents on the dollar, it's to pay $1 on the $1 and get the $1 back to customers.”

He concluded his message by stating that FTX would use the same strategy if it enters the Celsius auction.

Following Sam Bankman’s statement, Simon asked him to discuss a plan to “make up the difference in equity” via DM. 

However, there was no public response from the exchange's CEO as of writing this article.

Written by
Ayush Pande

Addressing Simon Dixon's Tweets, Sam Bankman-Fried disclosed how FTX would place bids on Celsius’ assets.

On Sunday, Simon Dixon, CEO of BnkToTheFuture, called out the users whose crypto assets are stuck on Celsius via Twitter. According to him, external investors will not be able to maximize recovery for the creditors.

Alluding to FTX winning the auction to purchase Voyager's assets, Simon claimed that the exchange has raised $32B to buy Celsius for “cents on the dollar.” 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


He also added that Nexo and Binance are potential bidders in Celsius’ auction, and no bailout could recover the funds currently frozen on Celsius. 

In response, Sam Bankman-Fried clarified that contrary to Simon’s allegations, FTX’s bids for Voyager’s assets were based on market price. He stated that acquiring Voyager for cheap wasn’t the firm’s goal, adding, 

“The goal isn't to make money buying assets at cents on the dollar, it's to pay $1 on the $1 and get the $1 back to customers.”

He concluded his message by stating that FTX would use the same strategy if it enters the Celsius auction.

Following Sam Bankman’s statement, Simon asked him to discuss a plan to “make up the difference in equity” via DM. 

However, there was no public response from the exchange's CEO as of writing this article.

Written by
Ayush Pande