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.
