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

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.