According to Reuters, Ripple Labs may be interested in purchasing the assets of embattled crypto lender Celsius Network. According to a Ripple spokesperson, the company is looking for M&A opportunities to help it scale its business.
However, the San Francisco-based firm refused to confirm whether it would buy Celsius assets outright.
“We are interested in learning about Celsius and its assets and whether any could be relevant to our business.”
Meanwhile, Ripple is one of the most valuable companies in the cryptocurrency industry. In January, the company was valued at $15 billion. The company also revealed that net purchases of its XRP token totaled more than $400 million during the second quarter.
Ripple is currently fighting the Securities and Exchange Commission (SEC) over whether its token sales qualify as a security offering.
Ripple is not the first company to be interested in Celsius. According to reports, FTX backed out of a deal to acquire the crypto lender due to a $2 billion financial hole.
Celsius was one of the crypto firms hit by the crypto market’s record crash in the second quarter. After halting withdrawals on June 12, the lender declared bankruptcy on July 14.
Since then, several state regulators in the United States have increased their scrutiny of the firm. Its CEO, Alex Mashinsky, was recently accused of making false public statements.
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