Ripple may decide to buy Celsius’s assets.
The company is “interested in learning about Celsius and its assets, and whether any could be relevant to our business,” a Ripple spokeswoman told Reuters today.
In order to “strategically scale the company,” the representative continued, Ripple is “actively looking” for chances to complete mergers and acquisitions.
The representative did not make it clear whether Ripple would think about buying Celsius entirely. Furthermore, the representative declined to say whether Ripple and Celsius are in contact. Celsius has not made any public remarks about the situation.
When Celsius stopped accepting withdrawals on June 12, it became the first of numerous businesses this summer to go bankrupt. Then, on July 13, it filed for bankruptcy, and on July 18, bankruptcy proceedings got under way, it started outlining a recovery plan.
On August 5, Ripple’s attorneys filed three documents to take part in Celsius’ bankruptcy proceedings. However, the documents make no mention of Ripple’s role in the case or whether it has anything to do with its acquisition strategies. According to Reuters, Ripple is not a significant creditor of Celsius.
It is unknown if Celsius would consent to such a contract. In June, Nexo offered a contract comparable to Celsius, but it was turned down.
These offers have not only been made to Celsius. Last month, FTX suggested a cooperative plan under which it would buy the assets and loans related to Voyager Digital’s digital assets while paying Voyager’s subscribers. Even though the two companies have a continuing business relationship, Voyager promptly rejected it.
Other businesses have been more accepting. Nexo made an acquisition bid to Vauld in the beginning of July, and the two companies agreed to study the prospect for 60 days.