PORTLAND, Ore. — Crypto billionaire Sam Bankman-Fried, who has bailed out distressed industry players in recent months, says he is considering bidding for assets of bankrupt lender Celsius Network. said a person familiar with his deal.
FTX is also pursuing a US$1 billion (S$1.44 billion) funding round, the same person said. That round is not yet closed or published.
In addition to its lending business, Celsius, which filed for bankruptcy in July, owns a large Bitcoin mining and crypto vault business. It is unclear whether Bankman-Fried’s cryptocurrency firm (FTX cryptocurrency exchange or trading firm Alameda Research) is considering bidding for some or all of Celsius’ assets.
Data from CoinGecko show that Celsius’ token, Cel, has fallen again after surging 9.9%.
Bankman-Fried has already scooped up the assets of bankrupt cryptocurrency broker Voyager Digital in a contract worth about US$1.4 billion. Earlier this year, FTX backed cryptocurrency platform BlockFi and explored a potential acquisition of Bankman-Fried’s stake in Robinhood Markets. He is estimated to own over 50% of his FTX US and nearly all of Alameda.
Celsius Chief Executive Alex Mashinsky stepped down on Tuesday, and the company and its creditors are weighing a range of options, from restructuring to liquidation. It said it had received multiple fresh cash offers to help with procurement.bloomberg
https://www.straitstimes.com/business/companies-markets/crypto-billionaire-bankman-fried-eyeing-bid-for-bankrupt-celsius-assets Crypto Billionaire Bankman-Fried Considers Bid For Bankrupt Celsius Assets