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Crypto exchange FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is considering bailing out Celsius Network by bidding on the assets of bankrupt lenders. It is reported. Coincidentally, the information came out on the same day that Alex Mashinski stepped down as CEO of Celsius.
I regret that my continued role as CEO has become increasingly distracting, Mashinsky said. “I’m sorry,” he explained his decision.For FTX, acquiring the assets in Celsius is a big deal, similar to what FTX US did for Voyager by securing a winning bid of around $1.4 billion. It signifies the exchange’s intention to save the lending company.
Bloomberg has reported FTX’s interest in the Celsius network, based on an insight from someone familiar with the SBF deal. However, an official statement from either party is pending at the time of writing.
On September 22nd, it was reportedly revealed that FTX was in talks with investors to raise $1 billion.
Celsius has filed for bankruptcy after posting a deficit of about $1.2 billion in mid-2022. Reuters reported in August that Ripple was interested in buying Celsius assets, but has since cooled down.
FTX has not yet responded to Cointelegraphs request for comment.
Related: UK Regulator Lists FTX Crypto Exchange As Unlicensed Company
In what appears to be a major restructuring effort, Brett Harrison has stepped down as president of FTX US and transitioned to an advisory role in the coming months.
1/ Announcement: I resign as president @FTX_OfficialOver the next few months, I will shift my responsibilities and move into an advisory role at the company.
Brett Harrison (@BrettHarrison88) September 27, 2022
“Until then, I’ll help Sam.” [Bankman-Fried] And the teams that have made this transition will ensure that FTX ends the year on its signature momentum.
