FTX Founder Weighs Buying Celsius Network's Assets: Report
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Sam Bankman-Fried, the founder of FTX, is considering buying assets of insolvent cryptocurrency lending firm Celsius Network, a person familiar with the matter told Bloomberg. It's unclear if Bankman-Fried is looking to purchase Celsius Network outright.

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The source added that FTX is in the process of raising a $1 billion funding round as well. Besides Bankman-Fried, Ripple had also expressed interest in purchasing Celsius Network's assets.

Celsius Network CEO Steps Down, Calls on Clients to 'Stay United'

Celsius filed for bankruptcy under Chapter 11 of the US Bankruptcy Code in July this year. The company says the restructuring will help it "maximize value for all stakeholders." Celsius owes users more than $4.7 billion.

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