At least five firms, including Binance, Bank To The Future, and Galaxy Digital, have shown interest and put offers on the crypto assets owned by Celsius Network, as indicated by the information disclosed concerning bids on these assets.
Tiffany Fong is a crypto currency blogger who was the one who was responsible for making the crypto bidding process on Celsius public. She is a devoted reader of Celsius news and gained a larger audience due to the several interviews she did with Sam Bankman-Fried following the collapse of FTX.
According to Fong, she possesses (1) records dated December 20 that indicate the bids on Celsius Network's crypto assets, and these documents may be found in her possession.
Fong explained in a post that she made on Substack that she had initially withheld from disclosing the information of bids to prevent dismantling the tendering process but that she was proposed to do so following the most recent comment from an advocate representing Celsius.
The remark was in response to the fact that Fong had initially withheld from disclosing the details of bids.
Fong has revealed several potential bidders, including the crypto currency exchange Binance, the online financial business Bank To The Future, the virtual currency investment adviser Galaxy Digital, the crypto currency trading firm Cumberland DRW, and the digital asset investment company NovaWulf.
As per Fong, most of the offers that were sent in during November 2022 have been abandoned.
Details of the Bids Submitted
According to the blog post, Binance submitted a bid for the assets totaling $15 million, of which $12 million would be paid to Celsius estate, and $3 million would be distributed to relocated users on a pro-rata basis.
It was revealed in the supposed Summary Term Sheet from Binance that the business wants to obtain and move all liquid and a few illiquid cryptocurrencies to Binance's market at the proper market value.
Simon Dixon, the Chief Executive Officer of Bank to the Future, stated in a recent tweet that he had received on January 26 that the contents of the bids that had been leaked about his organization were accurate.
Fong also confirmed in the blog article that she is aware of only five of these offers on Celsius' crypto assets, which she holds information of.
She also mentioned that the offer submitted by Novawulf was incredibly fascinating because it had an eerie likeness to the newly presented ideas for rebuilding Celsius's Network.
Fong also stated that she had many encounters with workers of Celsius Network. To her astonishment, these individuals were not even made aware of the bids that were being submitted.
According to Fong, the platform's creditors and most of its personnel were uninformed of the bids on digital currencies that investors had submitted.
The influential person asserts that they do not know what the future holds for the company now that it is accepting offers, but they believe that the creditors are entitled to more openness.
Binance has not provided a statement about the matter, as they have declined to do so.