Ripple expresses interest in buying assets of a troubled company

Rebel

News reports said Thursday that Ripple Inc. has expressed interest in buying the troubled assets of Celsius, and that the company has asked a court to be represented in ongoing bankruptcy proceedings, filings indicate.

The report continued, quoting a company spokesperson, that Ripple has not made a concrete decision to acquire the troubled company’s assets Celsius, and that Ripple is only interested in knowing whether these assets are relevant to its business or not only at the moment, and that Ripple is actively looking for merger and acquisition opportunities to expand scope of its operations.

It is reported that Celsius earlier filed for Chapter 11 bankruptcy protection in mid-July after becoming one of the biggest victims of the recent cryptocurrency meltdown. The company’s bankruptcy announcement came just one month after it abruptly announced the suspension of its recalls, wreaking further havoc around the industry.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Never miss any important news. Subscribe to our newsletter.