At close

S&P 5007,595.40−0.02%

Dow Jones52,073.70+0.04%

Nasdaq 10029,084.20−0.10%

Russell 20002,890.22+0.03%

Galaxy Digital to Buy Self-Custody Platform from Bankrupt Celsius

Galaxy Digital, Mike Novogratz’s firm, has won the auction to buy some assets from bankrupt crypto lender Celsius Network.

By 247patrick

Published December 2, 2022, 10:08pm ET · 1 min read

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

© frender / iStock via Getty Images

Galaxy Digital, Mike Novogratz’s firm, has won the auction to buy some assets from bankrupt crypto lender Celsius Network.
GK8, a self-custody platform, will be acquired by the firm in the bankruptcy proceedings.
The value of the deal isn’t disclosed but it is reportedly lower than the $115M paid for it by Celsius.
Galaxy Digital has not responded/commented yet.

This article originally appeared on The Tokenist

Contact [email protected] for any questions or corrections.

247patrick

All articles →

Continue Reading

A close-up, shallow depth-of-field shot of multiple circular red signs with the word 'Sale' in white text, hanging in a retail store aisle. In the foreground, a white price tag shows a normal price of '63.00' crossed out, with a sale price of '59.00' and 'can SAVE' below it. The background shows more blurred 'Sale' signs and shelves, emphasizing a shopping environment.

Celsius Seeks to Sell $18M of Earn Stablecoins in Bankruptcy Proceedings

Celsius Network asked the court for approval to liquidate $18 million of stablecoins in its Earn account to fund the company’s restructuring plan.

247patrick · 4 years ago

Reckless Trades by Celsius’ CEO Revealed Before Court Hearing

Alex Mashinsky lost Celsius Network millions of dollars after the crypto lender’s boss overruled his experienced investors, according to the Financial Times.

247patrick · 4 years ago

Hodlnaut Creditors Want Firm to Be Liquidated, Reject Restructuring Plan

Hodlnaut directors are unlikely to retain control of the company after key creditors turned down its proposal for a restructuring plan.

247patrick · 4 years ago

Celsius Creditors May Get 70% of Their Funds Back, per New Sales Plan

Celsius Network debtors have submitted a plan for a sale to investment advisor NovaWulf Digital Management.

247patrick · 4 years ago

Wall Street Giants Battling to Restart Celsius With $50M Injections

At least two Wall Street giants are currently trying to place a winning bid on Celsius, a bankrupt cryptocurrency lender.

247patrick · 3 years ago

Galaxy to Launch Bitcoin ETF in Brazil, Teams Up with LatAm Asset Manager

Galaxy Digital joined forces with the largest asset management firm in Latin America to launch a Bitcoin ETF in Brazil.

247patrick · 4 years ago

BitGo Claims Galaxy Digital Owes it $100M for Terminating Deal

Institutional digital assets company BitGo has hit back at Galaxy Digital Holdings over its decision to terminate the merger agreement between both companies.

247patrick · 4 years ago

Argo Blockchain’s Shares Up 100% as Miner Avoids Bankruptcy With $100M Deal

Shares of Argo Blockchain rallied after the bitcoin miner secured a $100 million bailout deal with Galaxy Digital.

247patrick · 4 years ago

Zipmex Likely to Allow Customer Withdrawals After Securing Rescue Deal

Beleaguered crypto exchange Zipmex is reportedly close to signing a rescue deal with a VC firm, allowing the company to restart customer withdrawals.

247patrick · 4 years ago