As per reports, the crypto exchange, FTX US, will now bid on the assets of the bankrupt lender Celsius Network. Earlier this week, FTX won the bid to acquire the assets of Voyager Digital.
FTX US has been on a major purchasing spree of distressed assets this year.
Earlier this week, FTX won the bid to acquire the assets of struggling crypto lender Voyager Digital.
As per sources familiar with the matter, the crypto exchange will now bid on the assets of the bankrupt lender Celsius Network. The market reports highlighted that the FTX is in the process of raising $1 billion from the market.
If FTX can carry out this Celsius transaction, it will let them expand their reach into other areas of the cryptosphere. In addition to lending, Celsius runs a crypto custody company and Bitcoin mining facilities. For the time being, it's unclear whether Sam Bankman-Fried’s group of companies, which includes FTX and Alameda Research, is bidding for all or some of Celisus' assets.
As previously stated, Sam Bankman-Fried successfully acquired the assets of Voyager Digital for a whopping $1.4 billion. This includes the $1.3 billion in value of all cryptocurrencies currently held by Voyager Digital, as well as an extra $110 million in consideration.
The announcement that Celsius's assets are being considered for acquisition comes only days after CEO Alex Mashinsky resigned on Tuesday. Celsius is currently considering several options, including reorganisation and liquidation. Last week, Celsius received various financial infusion proposals to assist with its reorganisation process.
Relocating FTX Headquarters
On Tuesday (Sept 27), FTX CEO Sam Bankman-Fried also announced the relocation of the FTX headquarters from Chicago to Miami. In addition, Zach Dexter will succeed Brett Harrison as president of FTX US.
Dexter previously served as the CEO of LedgerX until it was acquired by FTX US. In Tuesday’s announcement, SBF noted: "Really glad to work with Zachdex, Ryne Miller, and others to drive ahead in the US. A heartfelt farewell to Brett FTX as he moves to an adviser and FTX US transfers to its Miami HQ! It will be fantastic to be together if we can be agile and coordinated.
COINGABBAR VIEWS: On September 27, FTX US successfully acquired the assets of the bankrupt Voyager Digital. Now it’s planning to acquire the assets of Celsius Network. This was all part of FTX US's global expansion.
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