FTX founder and CEO Sam Bankman-Fried is reportedly eyeing a bid for the assets of the embattled crypto lending firm Celsius.

Sam Bankman-Fried May Scoop Up Bankrupt Celsius' Assets: Report

Sam Bankman-Fried, helms crypto exchange FTX and trading firm Alameda Research, is considering buying the assets of the bankrupt lending firm Celsius, according to a Bloomberg report citing “a person familiar with his deal-making.”

It is not immediately clear whether Bankman-Fried’s companies are considering bidding for some or all of Celsius’s assets, per the report. Decrypt reached out to FTX for comments but didn’t receive a response at the time of press.

Celsius replied via an auto-response email, saying that the firm is “working to respond to the many inquiries we receive as quickly as possible” and encouraged to keep up with the latest updates via the company’s blog and official Twitter account.

On Monday, FTX.US, the American subsidiary of FTX, won the bid to buy out Voyager Digital, another troubled crypto investment firm that filed for Chapter 11 bankruptcy in July this year.

Voyager said it had accepted the exchange’s $1.4 billion bid to be bought out, with Binance and Wave Financial being the runner-ups in a race to buy the bankrupted firm.

In an interview with CNBC’s Squawk Box earlier this month, Sam Bankman-Fried said FTX has at least $1 billion to deploy on more acquisitions and bailouts.

Celsius’s downfall

Celsius, which filed for bankruptcy in July, was one of the crypto industry’s key players, with the firm’s liabilities amounting to over $2 billion.

Aside from lending operations, Celsius also owns Bitcoin mining operations and a crypto custody business.

Earlier this month, Vermont officials alleged that Celsius has been secretly insolvent since 2019 and that CEO Alex Mashinsky had made false and misleading statements to exaggerate the firm’s financial health.

Mashinsky, who was allegedly responsible for a series of poor trades in early 2022 that precipitated the crypto lender’s downfall, announced his resignation Tuesday.

“I am very sorry about the difficult financial circumstances members of our community are facing,” Mashinsky said in a statement, adding that he will continue “to help the community unite behind a plan that will provide the best outcome for all creditors.”

Stay on top of crypto news, get daily updates in your inbox.

NEWS RELATED

‘The Prince of Wales understands Africa – he’s the most suitable young leader for our world’

Oops! Something went wrong. Please try again later. Patrick Mavros – Rii Schroer When the Prince of Wales steps on stage to award the 2022 Earthshot prize in Boston, his fellow environmental campaigner Patrick Mavros will be watching from Zimbabwe with particular pride. Having worked with the Prince for ...

View more: ‘The Prince of Wales understands Africa – he’s the most suitable young leader for our world’

Netflix fans react to Barbie as the Princess and the Pauper being added to the site

How Netflix fans reacted to iconic Barbie movie YouTube – Lionsgate We don’t mean to alarm anyone, but we have some very important news to share. Barbie as the Princess and the Pauper is now available on Netflix in the UK. Yes, we’re still screaming too. The iconic Barbie ...

View more: Netflix fans react to Barbie as the Princess and the Pauper being added to the site

LastPass Hacked for Second Time This Year

Password management app LastPass says it is investigating a security incident after an “unauthorized party” compromised its systems on Wednesday and gained access to some customer information. The information was stored in a third-party cloud service shared by LastPass and parent company GoTo, said LastPass CEO Karim Toubba in a ...

View more: LastPass Hacked for Second Time This Year

Australian Stock Exchange Fires 200 Contractors Working on Canceled Blockchain Project

Shortly after axing its blockchain project, the Australian Securities Exchange has now laid off 200 contractors working on the project.

View more: Australian Stock Exchange Fires 200 Contractors Working on Canceled Blockchain Project

Diablo Immortal update that helps casual players is coming soon

A future Diablo Immortal update will help players who have fallen behind level characters faster, in turn bringing them up to speed in Blizzard's action RPG

View more: Diablo Immortal update that helps casual players is coming soon

The Midnight Club Won't Get A Season 2 On Netflix

Eike Schroter/Netflix When it premiered, “The Midnight Club” seemed to mark the continuing streak of successful horror-themed content on Netflix from the creative mind of director-writer Mike Flanagan. Based on the young adult series by author Christopher Pike, “The Midnight Club” centers on a group of eight teenagers at ...

View more: The Midnight Club Won't Get A Season 2 On Netflix

More patrons dining out as F&B sector reopens fully, but customer satisfaction dips

SINGAPORE – More people are dining out now than in 2021, but fast-food outlets and restaurants are falling short in terms of customer satisfaction and perceived quality of products and services such as takeaway and food delivery. The findings were part of a Customer Satisfaction Index of Singapore survey, ...

View more: More patrons dining out as F&B sector reopens fully, but customer satisfaction dips

Eruption of Hawaii's Mauna Loa volcano boosts Big Island tourism during slow season

The world's largest active volcano Mauna Loa is erupting for the first time in 38 years alongside Kilauea, a smaller volcano on Hawaii's Big Island

View more: Eruption of Hawaii's Mauna Loa volcano boosts Big Island tourism during slow season

Amended SAFE-T Act Now Heads to Pritzker's Desk. What It Says, And What Happens Next

Formula 1 2023 Chinese Grand Prix cancelled due to Covid-19 restrictions

Terrifying moment a rat scurries from Christmas tree as dad leaps on cabinet and mum tries to shoot it with an air rifle

Meghan and Harry reignite war on Wills and Kate with ‘deliberately’ timed release of Netflix trailer to ‘ruin’ US tour

NFL Week 13 Bettors Guide: Don’t look for Giants to get back on track against Commanders

Ministers and civil servants could have to sign contracts vowing to abide by sleaze rules for TWO YEARS after quitting

Crypto Whales Are Swimming to This New Trading Platform in the Aftermath of the FTX Implosion – Time to Buy?

Korean Prosecutors Seek Arrest of Terra Co-Founder Over $105M LUNA Sale

Sajid Javid resigns: former health secretary to stand down as MP at next general election

Inflation driven by profits in few sectors, including oil and gas: report

Why flight times are longer than they were 25 years ago

Collapsed Norway bridge had break in main span, probe finds

OTHER NEWS

Breaking thailand news, thai news, thailand news Verified News Story Network