Sources say FTX wants to acquire assets of Celsius Networks

Crypto exchange FTX US has seen a wave of major acquisitions of troubled assets this year following the major crypto market crash. Earlier this week, FTX won the bid to acquire the assets of struggling crypto lender Voyager Digital.

According to sources familiar with the matter, the cryptocurrency exchange will now bid for the assets of bankrupt lender Celsius Network. There is news in the market that FTX is currently in the process of raising $1 billion in the market.

If FTX can complete this Celsius deal, it will help them spread to other sectors of the cryptosphere. In addition to its lending business, Celsius also owns a crypto custody business and Bitcoin mining operations. At this time, it is unclear whether Sam Bankman-Fried’s group of companies, which includes FTX and Alameda Research, is bidding for just some or all of Celisus’ assets.

As reported, Sam Bankman-Fried managed to recover the assets of Voyager Digital for a whopping $1.4 billion. This includes $1.3 billion in value of all cryptocurrencies currently with Voyager Digital as well as $110 million in “additional consideration.”

The new to consider acquiring the assets of Celsius comes just after CEO Alex Mashinsky resigned tuesday. Celsius is currently considering several options on the table, including restructuring as well as liquidation. Last month, Celsius received several offers of a new injection of cash to help it in its restructuring process.

FTX Head Office Relocation

On Tuesday, FTX Chief Sam Bankman-Fried also made another big announcement regarding the relocation of FTX’s headquarters from Chicago to Miami. Additionally, Zach Dexter will succeed Brett Harrison as the new president of FTX US. Dexter was previously the CEO of LedgerX before its acquisition by FTX US In Tuesday’s announcement, SBF Noted:

Really grateful to work with @zachdex, @_Ryne_Miller, and others to move forward in the United States; and a heartfelt goodbye to @Brett_FTX as he transitions to an advisor and FTX US moves to its Miami headquarters! Being agile and coordinated is a core value – it will be great to be together.

Bhushan is a FinTech enthusiast and has a good flair for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrency. He is continually in a learning process and motivates himself by sharing his acquired knowledge. In his spare time, he reads thrillers and occasionally explores his cooking skills.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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