Ripple Labs might buy bankrupt Celsius’ assets


  • Looks like Ripple may become the potential buyer of Celsius Network’s assets.
  • Ripple Labs has continued growing during the chaotic phase of the crypto market and is interested in scaling the company.
  • There has been no official announcement from both the companies.
Ripple Labs Inc. is currently engaged in a serious battle with the U.S. securities regulator. Despite going through a complicated time, the company has deep interest in buying the assets of Celsius Network, which has gone bankrupt. 

Ripple Labs’s spokesperson said that they are interested in knowing about Celsius as well the assets it has to know if any of them can help their business. 

The spokesperson further said that Ripple is growing sharply even during the ongoing disorder in the crypto market. Therefore, it is looking for mergers & acquisitions deals with an aim of scaling the company.

In June, Celsius froze withdrawals and blamed the market conditions after which it filed for bankruptcy, listing a $1.19 billion shortage. 

During the past week, lawyers of Ripple submitted filings to be shown in the proceedings. The filings have been approved by the court this week. 

Responding to queries based on the court filings, Ripple clarified not being the major creditor of Celsius

Ripple has never been a part of any major deals. In the second quarter, its overall sales of XRP were $408.9 million as compared to the first quarter, when the figure was $273.27 million.