Digital asset management company Galaxy Digital has reached an agreement to buy the assets of bankrupt Celsius.
In the crypto industry, bankruptcies have become very frequent. These bankruptcies are also behind the general bearish movements of the cryptocurrency market. It was prominent that Terra had a major collapse and dragged the Bitcoin side into a long-term bear market. In the following processes, 3AC and Celsius also went bankrupt. As we approached the end of the year, the bankruptcies of FTX and BlockFi companies also marked the agenda. All these bankruptcies in the crypto industry also brought new investment opportunities. After a long time of litigation, Celsius is about to be acquired by Galaxy Digital.
Galaxy Digital Puts Celsius on Its Radar
Digital asset management company Galaxy Digital continues to make investments to capitalize on this decline in the crypto industry.
The CEO of the company, Mike Novogratz, took a step on Celsius, which has been on the agenda for a long time. Novogratz has agreed to purchase Celsius’s assets.
Although the terms of the agreement were not disclosed, a statement came from the co-chairman of the company. Co-chairman Chris Ferraro said they bought the assets of the bankrupt company for well below the $115 million paid last year.
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