Is Ripple Labs acquiring crypto lender Celsius?

Is Ripple Labs acquiring crypto lender Celsius?

Share this article

Chris
Chris

An editor at Coincrop


12 Aug 2022 | 2 min read
28,749 views

A

ccording to press reports, San Francisco-based crypto payments company Ripple Labs has expressed an interest in acquiring the assets of crypto lender Celsius Network.

"We are interested in learning about Celsius and its assets, and whether any could be relevant to our business,” the spokesperson said, refusing to say if Ripple was interested in acquiring Celsius outright.

Ripple has continued to grow through the crypto market turmoil and "is actively looking for M&A opportunities to strategically scale the company," the spokesperson said.

Crypto lender Celsius prevented users from making withdrawals back in June claming "extreme" market conditions. It filed for bankruptcy in New Year in July with a $1.19 billion debt on its balance sheet.

 

 


Chris

Chris

An editor at Coincrop
View articles

Chris is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.


Our sponsor

CoinLoan combine the best of traditional and novel finance helping you borrow, swap and grow your assets.

Compare over 42,421 CeFi and DeFi products across more than 208 organizations here