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.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Celsius Estate Settles With Series B Holders Over Proceeds of GK8 Sale.CelsiusNetwork has settled with some of its shareholders over the sale of GK8 as the crypto lender's bankruptcy hearing looms. thesamreynolds reports.
Read more »
Bankrupt Celsius to spend $24M from GK8 sale on legal expensesBought by Celsius for $115 million in 2021, GK8 will now cost roughly the amount of Celsius’ legal fees as part of its bankruptcy process. 💸
Read more »
Celsius reaches $25 million settlement over GK8 saleBankrupt crypto lender Celsius has reached a settlement with Series B holders to distribute $25 million from the sale of GK8.
Read more »
China logs 52.2 Celsius as extreme weather rewrites recordsA remote township in China's arid northwest endured temperatures of more than 52 Celsius (126 Fahrenheit) on Sunday, state media reported, setting a record for a country that was battling minus 50C weather just six months ago.
Read more »
Celsius Massively Selling LINK, SNX, BNB and Other AssetsIt is unclear whether it is part of bankruptcy process or fundraising for Mashinsky's bail
Read more »
Shiba Inu's Bone Part of Massive Altcoin Sell-off Led by CelsiusCelsius Network has triggered broad sell-off of various altcoins, including 1.27 million LINK, 2.83 million SNX, 12,597 BNB, 4.45 million 1INCH, 8.53 million ZRX, 439,000 FTX and notably smaller amount of 186,149 BONE
Read more »