FTX Is Allegedly Considering to Bid on Celsius Network Assets

FTX Is Allegedly Considering to Bid on Celsius Network Assets

It seems that Sam Bankman-Fried's FTX is not ready to finish its shopping spree.

FTX, a Bahamian cryptocurrency exchange, is reportedly planning to place a bid for bankrupt lender’s Celsius Network crypto assets

According to a Bloomberg report shared on September 28th, the plans were revealed by a person familiar with FTX owner Sam Bankman-Fried's deal-making.

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However, no official announcements for either side of the deal are yet to be published. Therefore, it is unclear which of the two Sam Bankman-Fried’s companies, crypto exchange FTX or trading firm Alameda Research, will be bidding for Celsius assets.

It is worth noting that, in July, Celsius filed for bankruptcy. 

The rumors about FTX aiming to bid on Celsius Network assets comes shortly after FTX won an auction for Voyager Digital assets by placing a bid worth around $1.422 billion.

On September 22nd, FTX was rumored to be in talks with investors to raise $1 billion in funding to keep its valuation at $32 billion. Moreover, the crypto exchange has been actively acquiring various crypto companies. In July, FTX purchased crypto lender BlockFi and aimed to buy South Korean Bithumb and crypto trading platform Robinhood.

Meanwhile, on September 27th, Celsius CEO Alex Mashinsky announced his resignation. In the press release, Mashinsky noted that despite his resignation, he promised to continue to help to create a recovery plan for bankrupted Celsius.

I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing. Since the pause, I have worked tirelessly to help the company and its advisors put forward a viable plan for the Company to return coins to creditors in the fairest and most efficient way.

On top of that, the wave of reorganization has also touched FTX. The FTX US president Brett Harrison is stepping down from his position and will serve an advisory role for the company

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


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