Is Ripple Buying Assets From Celsius?

According to Reuters , Ripple Labs Inc. has submitted documents to a New York bankruptcy court asking for participation in the proceedings.

A spokesman for the firm told Reuters it was "interested in learning more about Celsius and its assets and whether these may be relevant to our business."

In addition, Ripple is “actively seeking new opportunities for mergers and acquisitions,” the spokesman said.

The assets are digital values that Celsius keeps for customers. These include loans, a bitcoin mining business, their own CEL token, as well as other cryptocurrencies and cash.

The crypto lending service was forced to file for bankruptcy on July 14 this year . Previously, Celsius stopped paying out customers on the platform.

Ripple itself has been in a dispute with the authorities since 2020. The American financial regulator SEC is currently suing Ripple. The accusation: Illegal raising of funds through the sale of the cryptocurrency XRP.

The New York bankruptcy court has accepted Ripple's request for participation, according to Reuters. It was also clarified that Ripple is not a creditor of Celsius.

Celsius has not yet commented on the events.

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