Ripple Labs Wants To Buy Celsius Assets

The parent company behind the Ripple network has expressed interest in purchasing assets belonging to the bankrupt Celsius Network.  Ripple Looking For M&A Opportunities A Ripple Labs spokesperson has expressed that the company is considering buying certain assets of the bankrupt crypto lender.

Timeline of Celsius, Xrp

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In the most recent Celsius-related news, the Selected Unsecured Creditors Committee (UCC), which was recently given the job of protecting the rights of unsecured creditors on the crypto platform, has finally released a statement outlining its plan of action.

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A Ripple Labs Inc spokeswoman has told Reuters that the company is considering buying the assets of bankrupt cryptocurrency lender Celsius Network. Celsius submitted their petition for protection under the bankruptcy law in July, and in June, it suspended all customer withdrawals.

This isn't the only objection that Celsius is facing. Also this week, the company attempted to seek permission to sell some of its Bitcoin — and this proposal is also being challenged.

Celsius former CFO will not be rehired as the newest developments suggest. Struggling cryptocurrency lender Celsius has withdrawn its request to rehire its CFO Rod Bolger as an advisor to help the platform with bankruptcy procedures.

According to a Ripple Labs spokesperson, the distributed ledger company is interested in learning about the bankrupt crypto lender Celsius and its assets. When Ripple's spokesperson was asked if the blockchain firm was interested in acquiring Celsius, the company declined to say.

A representative for San Francisco-based cryptocurrency company Ripple Labs said on Wednesday that the company might be the ‘potential buyer of the assets of bankrupt cryptocurrency lender Celsius Network, according to a Reuters report. The blockchain payments company is reportedly interested in Celsius' assets, although the specific plans are unclear.

Reuters reported that Ripple Labs could potentially buy assets of the defunct cryptocurrency lender Celsius Network, citing a company representative. The post Report Claims Ripple Labs Might Be Looking at Acquiring Celsius; Here's What We Know appeared first on BeInCrypto.

Per a report from news outlet Reuters, payment company Ripple is exploring the possibility of acquiring the assets of bankrupt crypto lender Celsius Network. The purchase might materialize via Ripple Labs, according to a company spokesperson.