The Israel-based GK8 was initially acquired by Celsius for $115 million in 2021.
The bankrupt cryptocurrency lender Celsius, its creditors, and its Series B holders have reached a settlement with regard to the distribution of $25 million in proceeds from the sale of crypto custodian GK8.
The agreement between the Debtors, the Committee, and the Initial Consenting Series B Preferred Holders is said to have been “thoughtfully negotiated and is eminently reasonable.
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