FTX's Bankman-Fried considering Celsius bid: Bloomberg

Quick Take

  • Sam Bankman-Fried is considering a bid for bankrupt Celsius Network’s assets, Bloomberg reported.
  • His company, FTX, is also working on a previously undisclosed $1 billion funding round, the news outlet wrote.
  • Celsius Network’s former CEO Alex Mashinsky stepped down earlier on Tuesday following the company’s creditor committee calling for his removal. 

FTX CEO Sam Bankman-Fried is considering bidding on bankrupt Celsius Network's assets, Bloomberg reported late Tuesday.

The cryptocurrency exchange is also working on closing a $1 billion funding round that has not yet been announced, the business news outlet also reported, citing a person familiar with the matter. 

Former Celsius Network CEO Alex Mashinsky stepped down earlier on Tuesday after the company's creditor committee called for his removal.

Celsius' native token, CEL, plunged below $1.40 following the news of Mashinsky's departure. However, the digital asset bounced back more than 15% from its lowest 24-hour point after the Bloomberg report, CoinDesk reported late Tuesday. 


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FTX won an auction for Voyager Digital's assets on Sept. 26, with a bid coming in at about $1.4 billion.

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


About Author

Kristin Majcher is a senior correspondent at The Block, based in Colombia. She covers the Latin America market. Before joining, she worked as a freelancer with bylines in Fortune, Condé Nast Traveler and MIT Technology Review among other publications.