Galaxy wins bid for collapsed crypto lender Celsius' GK8 unit
247.00 $
Published date: 2024/12/07
- Location: 61019, Moffett, California, United States
Dec 2 (Reuters) - Galaxy Digital Holdings Ltd will buy crypto lender Celsius Network LLC-owned digital asset custody platform GK8, the crypto financial services company said on Friday.
The purchase followed a sale process executed in connection with Celsius' Chapter 11 bankruptcy and is subject to court approvals and other closing conditions, the company said.
New Jersey-based Celsius filed for bankruptcy in July, citing extreme market conditions and listed a $1.19 billion deficit on its balance sheet.
The deal will add nearly 40 people, including cryptographers and https://gk88.academy/ blockchain engineers, as well as an office in Tel Aviv, Galaxy said.
Founded by Michael Novogratz, the company offers a suite of financial services including trading, asset management and investment banking among others to the crypto-focused companies.
The purchase followed a sale process executed in connection with Celsius' Chapter 11 bankruptcy and is subject to court approvals and other closing conditions, the company said.
New Jersey-based Celsius filed for bankruptcy in July, citing extreme market conditions and listed a $1.19 billion deficit on its balance sheet.
The deal will add nearly 40 people, including cryptographers and https://gk88.academy/ blockchain engineers, as well as an office in Tel Aviv, Galaxy said.
Founded by Michael Novogratz, the company offers a suite of financial services including trading, asset management and investment banking among others to the crypto-focused companies.
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