FTX reportedly considers bailing out Celsius via asset bid

1 month ago 9

Acquiring the assets of Celsius would connote FTX's intent to prevention the lending firm, akin to what FTX US did for Voyager by securing the winning bid of astir $1.4 billion.

FTX reportedly considers bailing retired  Celsius via plus  bid

Crypto speech FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is reportedly considering bailing retired Celsius Network by bidding connected the bankrupt lender’s assets. Coincidently, the accusation came retired the aforesaid time Alex Mashinsky resigned arsenic the CEO of Celsius. 

“I regret that my continued relation arsenic CEO has go an expanding distraction, and I americium precise atrocious astir the hard fiscal circumstances members of our assemblage are facing,” said Mashinsky portion explaining his decision. For FTX, acquiring the assets of Celsius would connote the exchange’s intent to prevention the lending firm, akin to what FTX US did for Voyager by securing the winning bid of astir $1.4 billion.

Bloomberg reported connected FTX’s involvement successful Celsius Network based connected insights from a idiosyncratic acquainted with SBF’s deal-making. However, an authoritative connection from either enactment is pending astatine the clip of writing.

On Sept. 22, FTX was reportedly recovered to beryllium successful talks with investors to rise $1 billion, which, if bagged, would assistance the speech clasp its $32 cardinal valuation amid a carnivore market.

Celsius filed for bankruptcy aft disclosing astir $1.2 cardinal successful deficit successful mid-2022. In August, Reuters reported connected Ripple’s involvement successful purchasing Celsius’ assets, which has since gone cold.

FTX has not yet responded to Cointelegraph’s petition for comment.

Related: British regulator lists FTX crypto speech arsenic 'unauthorized' firm

In what seems similar a monolithic restructuring drive, Brett Harrison stepped down from FTX US president to determination into an advisory relation successful the adjacent fewer months.

1/ An announcement: I’m stepping down arsenic President of @FTX_Official. Over the adjacent fewer months I’ll beryllium transferring my responsibilities and moving into an advisory relation astatine the company.

— Brett Harrison (@BrettHarrison88) September 27, 2022

“Until then, I’ll beryllium assisting Sam [Bankman-Fried] and the squad with this modulation to guarantee FTX ends the twelvemonth with each its diagnostic momentum,” said Harrison.

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