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Ripple casts eye over bankrupt crypto lender Celsius

Ripple casts eye over bankrupt crypto lender Celsius

Blockchain-based payments firm Ripple has registered an interest in acquiring assets belonging to bankrupt crypto lender Celsius.

Celsius filed for Capter 11 bankruptcy protection in July, a month after suspending all withdrawals, Swap, and transfers between accounts.

The firm, which was valued at $3.25 billion on a $750 million Series B financing round in November, allowed its 1.7 million users to deposit their bitcoin, ethereum and tether and receive weekly interest payments.

According to Reuters, Ripple attorneys submitted filings last week with the bankruptcy court asking to be represented in the proceedings.

A Ripple spokesperson told the newswire: “We are interested in learning about Celsius and its assets, and whether any could be relevant to our business." He offered no comment on whether the company wanted to acquire Celsius.

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