Ripple Labs is taking care of the assets of the bankrupt crypto lending platform Celsius. This news has been a source of hope for afflicted altcoin investors.
Ripple interested in buying bankrupt altcoin project
Ripple Labs, the company behind the cryptocurrency XRP, is a potential buyer of Celsius’s assets. According to a Reuters report, Blockchain payment company is interested in the assets of Celsius. However, there is no clarity on the plans. No official comment has been made on the purchase interest of Ripple Celsius assets from either company so far. Celsius filed for bankruptcy last month. The bankruptcy came after it stopped withdrawals and transfers from user accounts in June.
Is Ripple buying Celsius’ assets?
In the report, a Ripple spokesperson said the company is interested in potentially acquiring Celsius’ assets. Meanwhile, the report also states that Ripple is investigating whether Celsius’ assets will be relevant to its interests. However, the Ripple representative did not comment on whether Ripple was rightly interested in acquiring Celsius. The descriptions include:
We are interested in learning about Celsius and its assets and whether any of them might be relevant to our business. Ripple has continued to grow exponentially, actively seeking merger and acquisition opportunities to strategically scale the company.
Asset sales plans
When announcing plans to restructure Celsius, the company says it has approximately $4.3 billion in assets. It announced $5.5 billion in debt and $4.3 billion in assets, $600 million in CEL tokens, $170 million. Ripple’s interest in Celsius assets is quite positive as the acquisition could bring financial relief to individual investors. Celsius has already said that it is considering an asset sale to meet its financial needs.
The company will also consider asset sales and third-party investment opportunities to meet its financial obligations.” The overall goal is to maximize returns for stakeholders. Meanwhile, Celsuis has recently fallen under the radar of the US Department of Financial Protection and Innovation. In a warrant, the department said that Celsius CEO Alex Mashinsky “made material misrepresentations and omissions in the offering of crypto-interest accounts.” Statements of data included in descriptions include:
Celsius offered accounts that allow customers to earn interest on cryptocurrencies deposited in Celsius without qualifying those accounts as California law securities.
cryptocoin.com As we reported, Celsuis suspended withdrawals on June 13. The company is currently still not in a position to meet the funds of its investors. This bankruptcy came amid the sales that followed the Terra crash.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.