Ripple shows interest in acquiring Celsius

Ripple Labs could beryllium funny successful buying the assets of embattled crypto lender Celsius Network, Reuters reported Aug. 10.

A Ripple spokesperson reportedly said the steadfast was funny successful looking for M&A opportunities to standard its business. However, the San Fransico-based institution refused to corroborate if it would acquisition Celsius assets outright.

“We are funny successful learning astir Celsius and its assets and whether immoderate could beryllium applicable to our business.”

Reuters besides reported that Ripple was represented successful the Celsius bankruptcy proceedings.

Meanwhile, Ripple is 1 of the astir invaluable firms successful the crypto space. The steadfast was valued astatine $15 cardinal successful January. The steadfast besides revealed that the nett purchases of its XRP token were implicit $400 cardinal during the 2nd quarter.

Ripple is presently nether a ineligible conflict with the Securities and Exchange Commission (SEC) implicit whether the income of its token suffice arsenic a information offering.

Ripple is not the archetypal steadfast to amusement involvement successful Celsius. Reports emerged that FTX walked retired connected a woody to get the crypto lender due to the fact that of a $2 cardinal spread successful its finances.

Celsius was 1 of the crypto firms affected by the grounds clang of the crypto marketplace during the 2nd quarter. The lender filed for bankruptcy connected July 14 aft halting withdrawals connected June 12.

Since then, the steadfast has faced accrued scrutiny from respective authorities regulators successful the United States. Its CEO Alex Mashinsky was precocious accused of publically giving misleading statements.

The station Ripple shows involvement successful acquiring Celsius appeared archetypal connected CryptoSlate.