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FTX considers bailing out Celsius

FTX is reportedly considering bailing out Celsius Network by bidding on the bankrupt lender’s assets. Coincidently, the information came out the same day Alex Mashinsky resigned as the CEO of Celsius. 

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2 years ago

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FTX is reportedly considering bailing out Celsius Network by bidding on the bankrupt lender’s assets. Coincidently, the information came out the same day Alex Mashinsky resigned as the CEO of Celsius. 

For FTX, acquiring the assets of Celsius would imply the exchange’s intent to save the lending firm, similar to what FTX US did for Voyager by securing the winning bid of approximately $1.4 billion.

FTX’s interest in Celsius Network is based on insights from a person familiar with SBF’s deal-making. Celsius filed for bankruptcy after disclosing about $1.2 billion in deficit in mid-2022. In August, Reuters reported on Ripple’s interest in purchasing Celsius’ assets, which has since gone cold.

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