{"id":579991,"date":"2022-12-02T16:22:31","date_gmt":"2022-12-02T16:22:31","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=579991"},"modified":"2022-12-02T16:23:14","modified_gmt":"2022-12-02T16:23:14","slug":"novogratz-galaxy-digital-buy-gk8-celsius","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/novogratz-galaxy-digital-buy-gk8-celsius\/","title":{"rendered":"Mike Novogratz’s Galaxy Digital might buy crypto custodian GK8 from Celsius"},"content":{"rendered":"\n
Summary:<\/p>\n\n\n\n
Galaxy Digital submitted a successful bid for GK8, a crypto custodial service listed as an asset by Celsius during the lender\u2019s bankruptcy proceedings. Both entity did not disclose the acquisition sum at press time. <\/p>\n\n\n\n
GK8 was acquired by Celsius in November 2021 when the bull run was near its peak. Months after, the lender was crippled by slumped crypto prices and Terra exposure. Celsius paused<\/a> withdrawals shortly after LUNA and UST imploded in May, before declaring<\/a> bankruptcy in July,<\/p>\n\n\n\n CEO Mike Novogratz said in a statement that adding GK8 to Galaxy Digital\u2019s businesses offers a key ingredient for growth. Novogratz also addressed concerns regarding possible conflict of interest from the deal, ensuring that \u201cclients will have the option to store their digital assets at or separate from Galaxy\u201d.<\/p>\n\n\n\n Adding GK8 to our prime offering at this pivotal moment for our industry also highlights our continued willingness to take advantage of strategic opportunities to grow Galaxy in a sustainable manner.<\/p><\/blockquote>\n\n\n\n