It seems that Californian FinTech firm Ripple is considering purchasing the assets of bankrupt crypto lending firm Celsius Network.
According to a report published by Reuters earlier today, a company representative told them:
“We are interested in learning about Celsius and its assets, and whether any could be relevant to our business.“
The Ripple spokesperson went on to add that the cross-border payments specialist is “actively looking for M&A opportunities to strategically scale the company.”
On June 13, Celsius announced on its blog that due to “extreme market conditions” it was “pausing all withdrawals, Swap, and transfers between accounts”. Then, on July 14, Reuters reported that Celsius had filed for Chapter 11 bankruptcy.
Today’s report went on to say:
“Last week, lawyers for Ripple submitted filings to the bankruptcy court seeking to be represented in the proceedings. The court approved the filing earlier this week. Ripple is not among Celsius’ major creditors, Celsius’ bankruptcy filings show. Ripple provided the comment in response to Reuters’ queries regarding the court filings.“
On August 8, Ripple tweeted that it had been named as as one of the “100 Best Medium Workplaces” in America:
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