Updates: Ripple Is Interested In Buying Assets Of Crypto Lender Celsius

Ripple is interested in buying assets of crypto lender Celsius! In recent news, Ripple Labs, the company behind XRP, mentioned its interest in purchasing the bankrupt crypto lender.

Ripple and Celsius

On August 10th, a spokesperson spoke to Reuters about the interest in purchasing assets of Celsius Network. Currently, the person refused to open up in detail regarding the plan. 

The spokesperson said, “We are interested in learning about Celsius and its assets and whether any could be relevant to our business.”

As of now, Ripple is looking forward to doing some mergers and acquisitions in the future. 

The spokesperson added, “Ripple is actively looking for M&A opportunities to [strategically] scale the company.”

Previously on Ripple and Celsius

Celsius was among the crypto companies that froze all activities in June. They cited extreme market conditions as the reason for the decision. Unfortunately, in July, Celsius was back to announce they filed for bankruptcy in New York. Later, the filings revealed Celsius’ assets are cash, cryptocurrency, CEL tokens, and other digital assets. In the filings, Ripple is not one of Celsius’ major creditors. 

Last week, Ripple submitted filings as they looked for representation in Celsius’ bankruptcy proceedings. According to Reuters, earlier this week, the court approved the filing.

The Reactions

Since the news dropped, the community has been buzzing about the possibility of Ripple acquiring assets of Celsius. 

One account mentioned, “If this is solely for the assets, one has to wonder if this is another part of the Ripple buyback scenario. If not, what could they want with Celsius [the] company?”

Now, people are waiting for more updates regarding the news between Ripple and Celsius.

For more info regarding Crypto Alpha and NFTs Alpha.  Always follow us on Twitter and Instagram


Related post