Crypto Billionaire Bankman-Fried eyeing bid for bankrupt lender Celsius Assets

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28th September 2022 – (New York) According to Bloomberg, Sam Bankman-Fried, the crypto billionaire who has been bailing out distressed industry players in recent months, is considering bidding for the assets of bankrupt lender Celsius Network, according to a person familiar with his deal-making. 

FTX is also in the process of raising a US$1 billion funding round, the same person said. That round hasn’t closed yet or been made public.

On 8th December, 2021, Bankman-Fried, along with other industry executives, testified before the Committee on Financial Services in relation to regulating the cryptocurrency industry.

On 12th May, 2022, it was revealed that Emergent Fidelity Technologies Ltd., which is majority owned by Bankman-Fried, had bought 7.6% of Robinhood Markets Inc. stock.

Bankman-Fried is a supporter of effective altruism and pursues earning to give as an altruistic career. He is a member of Giving What We Can and has claimed that he plans to donate the great majority of his wealth to effective charities over the course of his life.  His company FTX has a policy of donating 1% of its revenue to charity

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