UPDATE: Mike Novogratz's Galaxy Digital said on Friday that it has won an auction to buy self-custody platform GK8 from the bankrupt crypto lender CelsiusNetwork By parikshitm899 and JamieCrawleyCD
said that it was materially less than what Celsius paid for it a year ago. Celsius had acquired GK8 in November 2021 for $115 million, asGalaxy's aim for the acquisition is to expand its prime brokerage offering. Around 40 people would be joining Galaxy's team including blockchain engineers and cryptographers.
The deal, which is subject to legal approval, would expand Galaxy's global footprint with a new office in Tel Aviv, the firm said. "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," founder and CEO of Galaxy, Novogratz said in the release.in July, with a few of its assets being putting on the block.crypto custody specialist BitGo for $1.2 billion.
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