Celsius Estate Settles With Series B Holders Over Proceeds of GK8 Sale
Bankrupt crypto firm Celsius has reached an agreement with creditors and Series B investors for a $25 million settlement to be drawn from the sale of self-custody platform GK8 to Galaxy Digital. The deal may not cover all legal expenses and unfairly provides an advantage to a specific group. Celsius filed for bankruptcy after troubles following its Series B, which was led by growth equity firm Westcap and a Quebec pension fund. Former CEO, Alex Mashinsky, was recently arrested as part of an investigation into the company's collapse.
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Celsius Estate Settles With Series B Holders Over Proceeds of GK8 Sale
Bankrupt crypto firm Celsius has reached an agreement with creditors and Series B investors for a $25 million settlement to be drawn from the sale of self-custody platform GK8 to Galaxy Digital. The deal may not cover all legal expenses and unfairly provides an advantage to a specific group. Celsius filed for bankruptcy after troubles following its Series B, which was led by growth equity firm Westcap and a Quebec pension fund. Former CEO, Alex Mashinsky, was recently arrested as part of an investigation into the company's collapse.