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 "secara aktif mencari peluang M&A untuk meningkatkan skala perusahaan secara strategis,” kata juru bicara.

Perpindahan itu terjadi setelah Celsius mengajukan kebangkrutan pada bulan Juni, mengutip "kondisi pasar yang ekstrim" dan mengakui lubang $1.2 miliar di neraca. Namun Celsius telah terbuka untuk tawaran pembelian bahkan saat ia menjajaki jalur bailout untuk kreditur yang telah menumpuk tekanan terhadapnya.

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.

Meskipun 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 perkelahian dengan Komisi Bursa Efek.

"Kita tahu Ripple is trying to buy Celsius. Why? Celsius marketed itself as a type of crypto bank,” Kata Lisa Daly Digital Product Manager di BlackRock, “Jaringan Celcius adalah platform pinjaman “sesuai SEC” yang diatur yang memungkinkan pengguna untuk menerima bunga pada kripto yang disimpan atau mengambil pinjaman yang dijaminkan kripto.”

Didirikan pada tahun 2017 oleh CEO Alex Mashinsky, Celsius telah berkembang pesat karena suku bunganya yang menarik bagi pengguna yang mencapai valuasi $3.5 miliar tahun lalu. Perusahaan, bagaimanapun, mendapati dirinya terjebak dalam krisis likuiditas dengan sebagian besar aset crypto-nya terdepresiasi di samping pasar crypto yang luas, meskipun tingkat bunga utangnya tetap tinggi. Salah urus keuangan dan badai ledakan stablecoin yang disebabkan oleh Terra, yang menyebabkan kerugian luas bagi beberapa pemain industri terkemuka, kemudian akan membuat Celsius bertekuk lutut. 

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.

Sumber asli: ZyCrypto