It is reported that FTX is considering saving Celsius through an asset auction

Crypto exchange FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is reportedly considering freeing up the Celsius network by bidding on the bankrupt lender’s assets. Coincidentally, the information was released on the same day that Alex Mashinsky stepped down as CEO of Celsius.

“I am saddened by the continued distraction of my role as CEO, and I am deeply saddened by the difficult financial situation our community members are facing,” Mashinski said in explaining the decision. For FTX, the acquisition of the Celsius assets shows the exchange’s willingness to bail out the lender, just as FTX US won a $1.4 billion bid for Voyager.

Bloomberg reported FTX’s interest in Celsius Networks based on information from a person familiar with the SBF deal. However, at the time of writing this report, an official statement from both parties is awaited.

On September 22, it was reported that FTX is in talks with investors to raise $1 billion, which, if bagged, will help the exchange hold a $32 billion valuation in a bear market.

Celsius filed for bankruptcy in mid-2022 after revealing a $1.2 billion deficit. In August, Reuters reported Ripple’s interest in buying Celsius’ assets, which has since cooled.

FTX has not yet responded to Cointelegraph’s request for comment.

Related: British regulator lists FTX crypto exchange as ‘unauthorised’ organisation.

In what appears to be a major restructuring, Brett Harrison has stepped down as president of FTX US to move into an advisory role over the next few months.

“Until then, I will help Sam [Bankman-Fried] And the team with this transition is to make sure that FTX is the end of the year feature,” said Harrison.