Crypto: Will Ripple Labs dig up Celsius (CEL)?

Could this finally be good news for non-refunded Celius users? In any case, the announcement of a possible takeover of the assets of the crypto lender will sprout hope among them. Long live the rebirth of Celsius Network, they subvocalize without declaring victory.

Ripple Labs Inc, about to become a shareholder of Celsius?

This is part of the speculation of observers at the moment. Because today, the San Francisco-based payments company appears to be showing interest in buying Celsius Network’s assets.

A Ripple spokesperson hinted at the administration’s intent:

We want to learn more about Celsius and its assets, and whether any of them might be relevant to our business. »

Nevertheless, we lack a lot of elements to evoke a takeover of Celsius by the company of Brad Garlinghouse. We only have the beginning of proof that Ripple’s asserted desire to ” [rechercher] actively pursue merger and acquisition opportunities to strategically scale the business “.

Also, we can mention the bankruptcy court’s approval of the documents recently filed by Ripple’s lawyers. Note, however, that the latter does not appear in the list of Celsius Network’s main creditors.

Celsius has hit rock bottom

After the drama drama of Terra (USDT and LUNA), Celsius gave us less funny stories too in the first half of 2022. It started with the suspension of all transactions on its entire platform in mid-June.

Then came Richard Heart’s verbal attacks on an Alex Mashinsky maker of ” bad joke » and other successions of no less pleasant events.

We have reported here on a whole series of bitcoin debt repayments from Celsius Network on Aave. To say that the end of reimbursements was appreciated as a victory by observers.

Except that all this did not prevent the bankruptcy of the company in Mashinsky. On the day of July 14, when all of France was witnessing a grand parade on the Champs-Elysées, the barons of Celsius did everything possible to file for bankruptcy. Certainly, head down.

The loss recorded seems colossal: about 5 billion dollars to be returned to its users. And the rest of the story requires more effort than expected. Among other things, the relaunch of its activities of mining of bitcoin or perhaps the buyout of its assets by a budding cryptocurrency company.

Anyway, the trend bearish current situation does not help players in the cryptographic universe. Fortunately, companies like Ripple Labs manage to get away with it (nice supporting statistics according to Reuters). Even the lawsuits initiated by the United States Securities and Exchange Commission since 2020 have not affected his state of health. A question arises: will he be able to revive Celsius?

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