Crypto exchange FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is reportedly considering bailing out Celsius Network by bidding on the bankrupt lender\u2019s assets. Coincidently, the information came out the same day Alex Mashinsky resigned as the CEO of Celsius.\u00a0<\/p>\n
\u201cI regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing,\u201d said Mashinsky while explaining his decision. For FTX, acquiring the assets of Celsius would imply the exchange\u2019s intent to save the lending firm, similar to what FTX US did for Voyager by securing the winning bid of approximately $1.4 billion.<\/p>\n
Bloomberg reported on FTX\u2019s interest in Celsius Network based on insights from a person familiar with SBF\u2019s deal-making. However, an official statement from either party is pending at the time of writing.<\/p>\n
On Sept. 22, FTX was reportedly found to be in talks with investors to raise $1 billion, which, if bagged, would help the exchange hold its $32 billion valuation amid a bear market. <\/p>\n
Celsius filed for bankruptcy after disclosing about $1.2 billion in deficit in mid-2022. In August, Reuters reported on Ripple\u2019s interest in purchasing Celsius\u2019 assets, which has since gone cold.<\/p>\n
FTX has not yet responded to Cointelegraph\u2019s request for comment.<\/p>\n