San Francisco-based blockchain payment company Ripple Labs, which is also the company behind the XRP cryptocurrency, has expressed interest in becoming a buyer of Celsius Network assets.
Celsius Networks, which offers accounts that allow customers to earn interest on deposited digital assets, filed for bankruptcy last month.
This happened after Celsius Network stopped withdrawals and transfers from user accounts in June.
However, Ripple is interested in learning about Celsius and its assets, as well as the importance it will have for its business. Ripple will also actively seek M&A to strategically scale the company.
However, there is no official comment yet from any company regarding the purchase of Ripple Celsius assets.
As Celsius announced its restructuring plan, the company revealed that it has $4.3 billion in assets, $5.5 billion in liabilities including $600 million in CEL tokens worth $170 million.
Ripple's interest in Celsius assets is a positive that could bring financial relief to retail investors. Celsius has also stated that it is considering asset sales as well as third party investment opportunities to meet financial obligations.
According to Celsius, the overall objective is to maximize returns for stakeholders. Meanwhile, cryptocurrency lenders are now on the radar of the U.S. Department of Financial Protection and Innovation.
The department said Celsius CEO Alex Mashinsky had made misstatements in a cryptocurrency interest account that appeared to underestimate the risk of depositing digital assets with Celsius.
