Eyeing Bid for Celsius Assets is Crypto Billionaire Bankman-Fried

    Article Overview

    Bloomberg News reports that Sam Bankman-Fried, the crypto billionaire has bailed out in recent months industry players that are in despair. The billionaire now considers bidding for the Celsius Network, the bankrupt lenders’ assets, as per an individual who is familiar with the matter and the deal-making.

    FTX has plans to raise about $ 1 billion in funding which was stated by the same individual that mentioned the deal. However, this funding round has not been revealed or made public yet. Aside from the lending business, Celsius filed for bankruptcy in July and was found to own large Bitcoin mining operations and a business that deals with crypto custody. However, it is not clear if the crypto companies of Bankman-Fried, the FTX crypto exchange, or Alameda Research, which is a trading firm is considering bidding for a few or all the assets of Celsius.

    The token belonging to Celsius, as per Bloomberg News, which is known as Cel was found to surge by as much as 9.9% before it retreated on the development, as per data that was obtained from CoinGecko.

    Bloomberg news also reports that Bankman Fried has picked up assets belonging to Voyager Digital Ltd, the crypto brokerage that is bankrupt already. The agreement was found to be of a value of approximately $1.4 billion. At the beginning of this year, FTX was exploring BlockFI, the crypto platform, and was found to explore whether there could be a possible takeover of Robinhood Markets Inc. in which a stake is owned by Bankman Fried. He was also assessed to have owned more than 50% of FTX US, and the entire Alameda.

    Bloomberg News also reports that the chief executive officer of Celsius, Alex Mashinsky submitted his resignation on Tuesday, while creditors and the company is exploring a wide array of alternative options, which range from restructuring to liquidation. The company said in August that it was receiving many offers related to fresh cash for helping fund the restructuring process.


    RELATED ARTICLES

    Mero share

    Mero Share: Everything You Wanted to Know about It

    If you have kept track of Nepal's stock market, you must have seen that it...
    Vegamovies in

    Tips and Tricks for Safe Viewing Movies On Vegamovies In

    Movie buffs are familiar with torrent websites that stream entertaining content, such as movies and...
    vegamovies.stores

    Vegamovies.stores Exposed: Decoding Legal & Security Concern

    With no subscription costs, Vegamovies.stores offer an alluring offer of limitless access to a huge...
    why were chainsaws invented

    Unveiling the History: Why Were Chainsaws Invented

    The chainsaw, a tool synonymous with forestry and woodcutting, has a surprisingly different origin story...
    gu icloud

    GU iCloud: Empowering Seamless Learning Anywhere, Anytime

    GU iCloud is one unique academic and administrative innovation associated with Galgotias University, India. Unlike conventional...
    HDHub4u com

    Hdhub4u: Your Gateway to the World of Entertainment

    These days, we know that there are scores of websites that offer free access to...
    Blueprint for Success

    Blueprint for Success: Starting Your Business Right

    Despite the fear that starting a business is a hazardous venture, it's important to understand...
    Mero share

    Mero Share: Everything You Wanted to Know about It

    If you have kept track of Nepal's stock market, you must have seen that it...
    thesparkshop.inproductearbuds-for-gaming-low-latency-gaming-wireless-bluetooth-earbuds

    thesparkshop.in:product/earbuds-for-gaming-low-latency-gaming-wireless-bluetooth-earbuds: Learn More

    In the world of gaming, every millisecond counts. Whether in the thick of war or...
    sdmoviespoint2

    Binge-Worthy SDMoviesPoint2: Paradise for Movie Maniacs

    One website that provides free downloads of films and TV series in various languages and categories...
    Vegamovies in

    Tips and Tricks for Safe Viewing Movies On Vegamovies In

    Movie buffs are familiar with torrent websites that stream entertaining content, such as movies and...