Sam Bankman-Fried Plans to Bid for Celsius Assets: Report

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FTX founder and CEO Sam Bankman-Fried could be bidding for the assets of beleaguered cryptocurrency lender Celsius shortly after winning the bid for Voyager Digital’s assets.

This comes just following the resignation of Alex Mashinsky – the former CEO of the struggling lender.

  • According to Bloomberg, an anonymous source revealed the news, adding that FTX is also planning to raise $1 billion in a new funding round.
  • The latest development comes shortly after FTX won the auction for the assets of struggling crypto firm Voyager Digital, which has an estimated worth of about $1.4 billion. FTX beat bidders like Binance to emerge the winner.
  • Celsius, in June, announced that the platform would halt all withdrawals, swaps, and transfers between accounts, citing extreme market conditions. The company later sought Chapter 11 bankruptcy protection.
  • As recently reported by CryptoPotato, Celsius CEO Alex Mashinsky stepped down from the helm effective immediately.
  • SBF, through its companies – FTX and Alameda – has been on a buying spree since the crypto bear market began earlier this year. He made such a deal with another struggling lender – BlockFi – while there were also reports about a potential acquisition of Robinhood, but that seems to be just a rumor for now.
  • Although most of the crypto market is deep in red today, Celsius’ native token spiked by 10% after the SBF news came out but retraced to a familiar ground shortly after.
CELUSD. Source: TradingView
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