Celsius Network CEO Alex Mashinsky has officially stepped down months after the company filed for bankruptcy. Right after the news was announced, CEL Token quickly plunged more than 10%. However, CEL quickly bounced back up to 15% as FTX CEO Sam Bankman-Fried is eyeing the bid for Celsius assets.
This really surprised the community because just a day ago, FTX won the bidding for Voyager Digital’s assets, valued at $1.4 billion. The exchange also claimed that it still has $1 billion left to spend on other acquisitions. However, at the time of writing, all data shows that Celsius will run out of funds by Oct 2022 so the auction for Celsius assets is likely to happen in the near future.
It is noteworthy that not only FTX is interested in this deal but also Ripple, which has also considered acquiring Celsius assets to expand its position. Ripple has so far not made any further comment but if the above hypothesis turns out to be true, we will once again witness an interesting competition between the biggest giants in crypto space.
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