- CEO Bankman-Fried shared details on how FTX might purchase Celsius’ assets.
- BnkToTheFuture CEO accused FTX CEO of proposing Celsius’ assets for cents.
- Bankman-Fried clarified that Voyager’s proposal was on “fair market pricing.”
Sam Bankman-Fried, the founder and CEO of crypto exchange FTX, has provided information on how his company might purchase Celsius’ assets. Fried made remarks while responding to Simon Dixon, BnkToTheFuture CEO, who accused Bankman-Fried of wanting to get Celsius’ billion dollar assets for peanuts as he did with the defunct crypto lender Voyager.
Previously, the United States arm of FTX (FTX.US) acquired Voyager Digital for $1.3 billion after a highly competitive auction process that lasted two weeks.
The FTX CEO clarified that his company’s proposal for Voyager was based on “fair market pricing, no discounts,” countering Dixon’s claims. Moreover, he continued that the “goal was not to make money buying assets at cents on the dollar” but to pay $1 on the $1 and get the $1 back to customers.
to be clear — in Voyager, our bids are generally determined by fair market price, no discounts; goal isn’t to make money buying assets at cents on the dollar, it’s to pay $1 on the $1 and get the $1 back to customers.If we were to get involved in Celsius, it would be the same.
— SBF (@SBF_FTX) October 2, 2022
“If we were to get involved in Celsius, it would be the same,” he concluded.
In a seven-paragraph tweet yesterday, CEO Dixon explained that “only Celsius creditors can make other creditors whole, and only regulators can agree on a compliant structure.” Furthermore, he continued:
Some creditors are willing to invest into a management team that wants to build something potentially big and compliant. Others want out. External investors want to buy our assets cheap and won’t try to make us whole.
He also believes that if stakeholders get the deals wrong, the company may end up in the hands of billionaire Sam Bankman-Fried.
In the past, several regulatory bodies have expressed their opposition to Celsius selling its stablecoin assets. The Department of Justice rejected the firm’s motion to open withdrawals while the examiner’s report was in progress.
The post Bankman-Fried Sheds Light on How FTX Would Approach a Celsius Bid appeared first on Coin Edition.