Crypto Lender Celsius Exploring All Options After FTX Rejects Acquisition Deal

Celsius, the disaster-stricken cryptocurrency lender, has assured its community that it was exploring all the options available to stabilize liquidity and operations.

What Happened: In a blog post on June 30, Celsius said that it was exploring options like pursuing strategic transactions and restructuring its liabilities.

“These exhaustive explorations are complex and take time, but we want the community to know that our teams are working with experts from many different disciplines,” stated the crypto lender.

See Also: IS CELSIUS TOKEN DEAD?

The company’s most recent statement comes after reports of Sam Bankman-Fried-led FTX rejecting a deal to acquire the lender after examining its balance sheet.

On Thursday, The Block reported that FTX terminated acquisition talks after observing a $2 billion hole in Celsius’ balance sheet and finding the company “difficult to deal with.”

Earlier this week, Celsius also denied reports that CEO Alex Mashinsky had attempted to flee the U.S. after the company’s liquidity crisis worsened, leading to the halting of withdrawals.

Last year, Mashinsky predicted Bitcoin BTC/USD would close the year at $160,000, and criticized Tesla Inc TSLA CEO Elon Musk for being a “tourist in crypto.”

Price Action: According to data from Benzinga Pro, Celsius’ native token CEL CEL/USD was trading at $0.64, down 14% over the last 24 hours.

Photo via FellowNeko on Shutterstock

Posted In: Alex MashinskyBitcoinCelsiusFTXCryptocurrencyNewsTop StoriesMarkets

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