Sam Bankman-Fried to bid for Celsius assets

After winning the auction for insolvent company Voyager Digital’s assets, the crypto billionaire is considering his next move.

American entrepreneur and CEO of FTX Sam Bankman-Fried is considering bidding for bankrupt Celsius Network’s assets, according to reports.

There is speculation that Bankman-Fried companies, FTX or Alameda Research are bidding for a partial or full share of Celsius’ assets after it filed for bankruptcy on July 15.

Celsius’s CEO Alex Mashinsky resigned from his position earlier this week. The company is currently looking into a range of alternatives from either restricting or liquidising the crypto firm.

Last month the bankrupt network said it received several cash offers to aid in funding its restructuring process.

Alongside its lending business, Celsius also owns Bitcoin mining operations and a crypto custody business.

Bankman-Fried, founder and CEO of FTX, recently acquired the assets of insolvent company Voyager Digital in a $1.4bn agreement.

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Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.

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