The founder and chief executive officer (CEO) of digital asset exchange FTX is considering bidding for the assets of bankrupt lender Celsius Network, according to a source familiar with the matter.

Sam Bankman-Fried has been rescuing struggling crypto companies and bought several of them recently.

FTX already managed to acquire the assets of bankrupt crypto brokerage Voyager Digital Ltd. this week after winning an auction with a bid of around $50 million, Blockchain.News reported.

In addition to its lending business, Celsius owns large Bitcoin mining operations and a cryptocurrency custody business. The company filed for bankruptcy in July this year.

However, it is unclear which of Bankman-Fried’s cryptocurrency firms (cryptocurrency exchange FTX or trading firm Alameda Research) will bid for some or all of Celsius’s assets.

According to data from CoinGeckoCelsius’s token CEL jumped as much as 9.9% in the development before falling back again.

Crypto platform BlockFi also came under FTX’s acquisition radar earlier this year, along with a possible acquisition of Robinhood Markets Inc., where Bankman-Fried owns a stake.

According to a source, FTX is in the process of raising a $1 billion funding round. The deal has not yet been closed or made public, the source familiar with the deal added.

Negotiations are reportedly ongoing and confidential, with the company raising up to $1 billion to maintain the previous $32 billion valuation. Still, conditions could change, according to sources.

Meanwhile, Celsius Chief Executive Alex Mashinsky resigned on Tuesday.

Mashinsky co-founded Celsius Network along with Daniel Leon in 2017, and the company grew to become one of the most famous crypto lending platforms in the crypto world.

However, the company’s operation tanked in June when it halted withdrawals and eventually filed for bankruptcy after realizing that internal restructuring and staff layoffs would be insufficient to help resolve its liquidity problems.

Following his resignation, the crypto firm and its creditors are considering a number of alternatives, ranging from restructuring to liquidation.

In August, the company said it received multiple offers of fresh cash to help finance its restructuring process.

Mashinsky’s resignation came at a time when the company is in the midst of bankruptcy proceedings, and the former chief executive said his departure would put him in a better place to help all shareholders get the best out of the company by final.

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