Sam Bankman-Fried, the founder and CEO of FTX, talked about how his company would buy up Celsius’ assets.
The comments come after FTX US bought the assets of bankrupt crypto lender Voyager Digital through an auction last week for $1.3 billion, and a recent report said that FTX was also thinking about making a bid for Celsius’ assets.
In response to a tweet from BnkToTheFuture founder Simon Dixon, who said that FTX was “raising money at a $32 billion valuation” to buy Celsius’ assets for “cents on the dollar,” Bankman-Fried said that his company’s bid is based on “fair market price, no discounts.”
Bankman-Fried said that the goal of his company “isn’t to make money by buying assets for pennies on the dollar.” Instead, he said, the company wants to make customers whole again.
“The goal isn’t to make money by buying assets for pennies on the dollar. Instead, it’s to pay $1 on the $1 and give the $1 back to customers. ” If we got involved in Celsius, it would be the same.”
The first report that FTX had won the bid for Voyager Digital’s assets came out on September 27. The deal was said to be worth $1.4 billion.
Customers of Voyager and their crypto assets were not told much about what would happen to them. The platform only said that the FTX US platform “will allow customers to trade and store cryptocurrency after the company’s Chapter 11 cases are over.”
But Celsius’ depositors seem to be in a worse state of limbo at the moment. There is a general feeling that the company could try to sell off its billions of dollars worth of assets, but other ideas could also be brought up, such as giving customers their money back in Celsius (CEL) tokens.
A lot of this will affect how the bankruptcy proceedings for Celsius go forward. An independent review is being set up to find out how bad the company’s finances are.
Multiple regulators have said that they don’t want Celsius to sell off its stablecoin holdings. The Department of Justice has also said that it doesn’t want the company to let some customers withdraw money until the examiner report is finished.
