The crypto market has been extremely happening in 2022. There have been many acquisitions of which FTX was a leading acquirer. This exchange has taken in many struggling firms. FTX is seeking to acquire crypto lender Voyager Digital and the Celsius Network.
Earlier this week, FTX outbid Binance leading them to bring Voyager Digital assets under their possession. Now, the company is attempting to bid for assets in the Celsius network. They are expecting to raise $1 billion from the market.
The Celsius firm had filed for bankruptcy protection months before, however, the CEO Alex Mashinsky resigned yesterday to proceed with the Celsius acquisition. He has claimed to still collaborate with the company to bring the most ideal outcome for creditors even though his resignation was in immediate effect.
If FTX succeeds in possessing Celsius Network, FTX will have contributed to the majority of the crypto firms. However, it is still unknown to us whether FTX is bidding for all assets in Celsius, or only a few.
The community supporting Celsius has been extremely concerned about the price trajectory. Even CEO Alex Mashinsky resigning, Celsius had nosedived by around 7%. However, FTX’s the acquisition of CEL network has caused an upsurge in prices. They regained momentum and now the token has spiked by nearly 15%.
The shopping spree FTX is going through is not the only big news they have. FTX has recently announced that it will be shifting its headquarters from Chicago to Miami. They will also be having a new president, Zach Dexter succeeding Brett Harrison.
