2 years ago
Galaxy Digital announced it had successfully acquired self-custody level GK8 for an undisclosed sum.
The merchantability was successful transportation with Celsius’s Chapter 11 bankruptcy proceedings and has yet to beryllium approved by the court.
Galaxy Digital CEO Mike Novogratz said acquiring GK8 volition assistance Galaxy connection its clients a full stack of cryptocurrency services, peculiarly regarding retention solutions. He added that the woody was a strategical accidental to turn his company.
“The acquisition of GK8 is simply a important cornerstone successful our effort to make a genuinely full-service fiscal level for integer assets, ensuring our clients volition person the enactment to store their integer assets astatine oregon abstracted from Galaxy without compromising versatility and functionality.”
Tel Aviv-based GK8 was acquired for $115 million by Celsius successful November 2021. Before the buyout, GK8 was already an established subordinate successful custody services, counting banks and fiscal services providers among its lawsuit list.
GK8 cofounder Lior Lamesh said with Galaxy Digital’s backing, the steadfast intends to ” present caller and exciting” products that showcase GK8’s expertise successful cryptography and security.
The station Galaxy Digital wins bid for GK8 successful Celsius bankruptcy plus auction appeared archetypal connected CryptoSlate.
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