FTX founder and CEO Sam Bankman-Fried has shared details on how his company would approach the purchase of Celsius assets.
The comments come in light of FTX US snapped up the assets of bankrupt cryptocurrency lender Voyager Digital for $1.3 billion via auction last week, and a report recently came out that FTX was also considering a bid for Celsius assets. .
In response to a tweet from the founder of BnkToTheFuture, Simon Dixon, in which claimed that FTX was “raising funding at a $32 billion valuation” to buy Celsius’s assets for “pennies on the dollar,” Bankman-Fried clarified that his company’s offer was determined at “fair market price, without discounts.”
You up for discussing a plan to make up the difference with equity? I have some ideas that will make the community very happy with the deal? DM me. This has really impacted many people’s lives.
— Simon Dixon (Beware Impersonators) (@SimonDixonTwitt) October 2, 2022
Are you willing to discuss a plan to make up the difference with your own funds? Do you have ideas that will make the community happy with the deal? Send me an email. This has really had an impact on the lives of many people.
Bankman-Fried said her company’s goal “is not to make money buying assets for pennies on the dollar,” but rather to make customers whole again.stating:
“[El] The goal is not to make money buying assets for pennies on the dollar, but to pay $1 for every $1 and return $1 to customers. If we got involved with Celsius, it would be the same.”
News that FTX had made the winning bid for the assets of Voyager Digital first surfaced on September 27, with a deal reportedly valued at $1.4 billion.
Little information was given about the fate of Voyager’s clients and their cryptocurrency holdings; the platform only mentioned that FTX US will “allow customers to trade and store cryptocurrencies after the conclusion of the company’s chapter 11 cases.”
Nevertheless, Celsius depositors appear to be in a limbo state at this stage, although there is a general feeling that the firm could seek to auction off its billions of dollars in assets. Nevertheless, Other plans could emerge, such as a refund of customers in Celsius (CEL) tokens.
Much of this will depend on how Celsius’s bankruptcy proceedings unfold in the future. An independent examination is underway to determine the extent of the beleaguered company’s finances.
Multiple regulators have filed objections to Celsius’s sale of its stablecoin holdings.and the Justice Department has also opposed the company’s motion to open withdrawals to certain customers until the examiner’s report is complete.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.