Ripple aims at buying out Celsius
- Ripple is looking into the option of acquiring the assets of Celsius
- In its process, ripple has also filed its documents to take part in the hearing of the Celsius’s Bankruptcy.
- Ripple aims buying out Celsius.
- Nothing concrete yet from Celsius about the news regarding Ripple’s buy out.
Celsius crumbling in the market crash!
The market crash that happened in May, surely caused a lot of havoc in the market. Each and every party concerned to the market, experienced damage of some kind due to the implosion. Celsius was among one of those companies that couldn’t withstand the market crash and went on to file for Chapter 11 of Bankruptcy. The news about Celsius filing for Bankruptcy spread like a wild fire in the market, disturbing the investors and creditors of the company, big time.
Since, then Celsius is been all over the news about how it is keeping the creditors in the last position at the time of payments, and how the creditors and investors are pleading to judge by sending in letters, talking about their nightmare with Celsius. All these have certainly helped the hope for Celsius crumble in the market.
Now, it is believed that, Ripple is interested in buying out the assets of Celsius, big time. The lawyers of the company are also note to be filing the documents to take part in the bankruptcy hearing.
Ripple’s consideration of acquiring Celsius!
One of the spokespersons from Ripple acknowledged that, the company is certainly interested in knowing and learning about Celsius and its assets, and whether any of it could be relevant to their business.
According to the reports, this is not the first time, Celsius is being offered a buyout. Previously, Nexo went on to propose a similar deal, which was rejected by Celsius immediately. Though there is no official confirmation from Celsius, if they are interested in the offer or not, it feels that, the company might most likely turn down the offer.
According to me, Celsius, is certainly in a state of bother and with all the allegations in the market, the company is just sinking. Though Ripple has considered buying out the assets and the company, it is not sure why Ripple has shown interest in the company as it is also not a major creditor of Celsius. Whether Celsius will accept the offer or decline it, only time will tell.
What do you think about Ripple’s offer to Celsius? Why would such Ripple want to acquire a bankrupt company? Let me know in the comments section. Also share this content with your peers, in case you liked it.