XRP On Growth Path As Ripple Considers Purchasing Assets Of Cash-Strapped Firm Celsius

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XRP On Growth Path As Ripple Considers Purchasing Assets Of Cash-Strapped Firm Celsius

Ripple, the blockchain payments company behind the XRP cryptocurrency, is reportedly considering acquiring assets belonging to beleaguered crypto lending firm Celsius.

According to a Reuters report, a spokesperson from Ripple disclosed that the firm was “interested in learning about Celsius and its assets,” in addition to assessing whether any of them could be relevant to their business. The move was informed by Ripple’s continued growth and desire to expand its business despite the hurdles facing the crypto market at large. Ripple "està buscant activament oportunitats de fusions i adquisicions per escalar estratègicament l'empresa". va dir el portaveu.

El moviment arriba després de Celsius presentat per fallida al juny, citant "condicions extremes del mercat" i reconeixent un forat de 1.2 milions de dòlars al seu balanç. No obstant això, Celsius s'ha mostrat obert a les ofertes de compra, tot i que explora vies de rescat per als creditors que han estat pressionant-hi.

The June chapter 11 bankruptcy filings disclosed that Celcius holds a variety of possessions including digital assets held in custody accounts, loans, the company’s own CEL token, Bank cash and a bitcoin mining business. Last week, Ripple lawyers made an application seeking to be enjoined in the bankruptcy proceedings despite not being a major creditor for Celcius.

Encara Ripple has not done any major acquisition deals previously, some pundits believe Celsius’s attractive legal background could be the key reason for Ripple’s increased interest in the firm, especially given its baralla amb la Comissió de la Borsa de Valors.

"Sabem Ripple is trying to buy Celsius. Why? Celsius marketed itself as a type of crypto bank,” Lisa Daly, directora de producte digital de BlackRock, va dir: "La xarxa Celsius és una plataforma de préstec regulada i "compatible amb la SEC" que permet als usuaris rebre interessos sobre la criptografia dipositada o contractar préstecs amb garantia de criptografia".

Fundada el 2017 pel CEO Alex Mashinsky, Celsius havia crescut ràpidament a causa dels seus atractius tipus d'interès per als usuaris que van valorar 3.5 milions de dòlars l'any passat. L'empresa, però, es va trobar atrapada en una crisi de liquiditat amb la majoria dels seus actius criptogràfics depreciant-se al costat de l'ampli mercat criptogràfic, malgrat que els tipus d'interès del deute es mantenen elevats. La mala gestió financera i la tempesta d'implosió de monedes estables induïda per Terra, que va provocar pèrdues generalitzades per a diversos actors destacats de la indústria, posteriorment posarien de genolls a Celsius. 

That said, while a favourable outcome could come out of Ripple’s quest, it is unclear if the firm seeks to acquire Celsius altogether. In June, a source revealed that FTX “was interested in making a deal with Celsius but walked away” because of the irredeemable state of its finances, instead settling on BlockFi.

Font original: ZyCrypto