Galaxy Digital Gets Celsius Assets at 60% Discount After Crypto Lender’s Bankruptcy
Mike Novogratz, founder and chief executive officer of Galaxy Digital.
Photographer: Edwin Koo/BloombergThis article is for subscribers only.
Galaxy Digital is paying $44.1 million to buy Celsius Network’s GK8 business — more than 60% lower than what the bankrupt crypto lender paid to acquire the self-custody platform just last year.
The deal for GK8 was agreed at a purchase price of $44 million in cash plus $100,000 in assumed liabilities, according to a court filing. Celsius had previously acquired GK8 for $115 million in November 2021.