![\"Ripple](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/08\/dddxxxzz-768x432.jpg\")
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According to a Ripple Labs spokesperson, the distributed ledger company is interested in learning about the bankrupt crypto lender Celsius and its assets. When Ripple\u2019s spokesperson was asked if the blockchain firm was interested in acquiring Celsius, the company declined to say. The news follows Celsius customers begging the bankruptcy court to release funds over dire financial emergencies. <\/strong><\/p>\n While Celsius customers await the Southern District of New York bankruptcy court proceedings following the company\u2019s bankruptcy<\/a> filing on July 13, it seems Ripple Labs is focused on the crypto lending firm\u2019s remaining assets. Reuters reporter Hannah Lang talked to a Ripple spokesperson and the individual told Lang that \u201c[Ripple Labs is] interested in learning about Celsius and its assets, and whether any could be relevant to our business.\u201d<\/p>\n The commentary follows Ripple\u2019s CEO Brad Garlinghouse hinting<\/a> about future mergers and acquisitions (M&A) when the executive visited the 2022 World Economic Forum (WEF) event in Davos. At the time, Garlinghouse said Ripple Labs has \u201ca very strong balance sheet.\u201d He also added that Ripple Labs may participate in future mergers and acquisitions (M&A) deals. \u201cWe\u2019re now at a stage of growth where I think we\u2019re more likely to be the buyer versus the \u2026 seller,\u201d Garlinghouse said at the WEF event.<\/p>\n During an interview<\/a> at the end of July at the Collision 2022 event, Garlinghouse talked about the company\u2019s growth and the lawsuit with the U.S. Securities and Exchange Commission (SEC). \u201cIf Ripple loses the case, does anything change? It\u2019s basically just status quo. Ripple is still growing very, very quickly,\u201d Garlinghouse said at the time. Reuters\u2019 reporter Lang noted on Wednesday that the Ripple Labs spokesperson declined to comment when she asked if Ripple would attempt to acquire Celsius entirely.<\/p>\n The news comes at a time when Celsius customers are upset about their funds and a number of Celsius clients wrote letters<\/a> to the bankruptcy court begging to get access to their funds. \u201cI and my family are severely impacted both in financial and mental health by the bankruptcy and locked up cryptos,\u201d one Celsius customer told the court. According to Lang\u2019s report, Ripple has submitted filings to the Celsius bankruptcy court proceedings and seeks to be represented. \u201cThe court approved the filing earlier this week,\u201d Lang\u2019s report details.<\/p>\n Lang said the Ripple spokesperson\u2019s commentary was in response to Ripple being asked to comment on the court filings. The Reuters report also said that the lawyer representing Ripple in the matter did not provide any statements and Celsius hasn\u2019t responded to Lang\u2019s questions. On July 4, the government of Colombia revealed<\/a> that Ripple\u2019s distributed ledger would be leveraged in a new blockchain-based land title registry developed by a third-party company called Peersyst Technology.<\/p>\nRipple Spokesperson Explains Distributed Ledger Company Is Interested in the Bankrupt Firm Celsius and the Crypto Lender\u2019s Assets<\/h2>\n
Ripple Submits Filings to Celsius Bankruptcy Court Proceedings<\/h2>\n