Is Ripple Labs acquiring crypto lender Celsius?
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An editor at Coincrop
12 Aug 2022 | 2 min read
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.
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