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

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

This comes on the heels of the resignation of Alex Mashinsky, the struggling lender’s former chief executive.

  • According to Bloomberg, an anonymous source revealed the news, adding that FTX also plans to raise $1 billion in a new round of funding.
  • The latest development comes shortly after FTX won the auction of the assets of struggling crypto firm Voyager Digital, which is worth an estimated $1.4 billion. FTX beat bidders like Binance to emerge the winner.
  • Celsius in June announced that the platform would halt all withdrawals, exchanges and transfers between accounts, citing extreme market conditions. The company later sought Chapter 11 bankruptcy protection.
  • As recently reported CryptoPotatoCelsius 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. It struck a deal with another struggling lender, BlockFi, while there were also reports of a possible acquisition of Robinhood, but that appears to be just a rumor at the moment.
  • While most of the crypto market is in the red today, Celsius’ native token surged 10% following the SBF news, but returned to familiar ground soon after.
CELUSD.  Source: TradingView
CELUSD. Source: TradingView

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