Mike Novogratz’s Galaxy Digital (GLXY) The company announced on Friday that the bankrupt crypto credit institution from Celsius Network storage platform GK8 Won an auction to buy.
GK8 Released After Celsius Bankruptcy
The terms of the deal were not disclosed. However, Galaxy co-President Chris Ferraro said the firm purchased the assets for materially less than the $115 million Celsius paid for them last year.
Galaxy’s acquisition intent is seen as expanding its core brokerage offering. Around 40 people will join Galaxy’s team, including blockchain experts and cryptographers.
The firm said the deal, which is subject to regulatory approval, will expand Galaxy’s global footprint with a new office in Tel Aviv.
“The idea of self-preservation as an option is in the back of our minds,” Ferraro said. We’ve been aiming to highlight the technology side of Galaxy for a long time.” said.
Novogratz said that Galaxy Digital is considering acquiring potentially distressing and cheap crypto assets through some small acquisitions.
He explained that Galaxy also reduced its balances on crypto exchanges as a precaution and started to take a closer look at the exchanges’ reserves after some of their assets were stuck on the FTX exchange.
Galaxy Digital CEO Mike Novogratz, in a recent program on Bloomberg TV, announced that the largest cryptocurrency with a unit of bitcoin He said it was no longer possible to reach the $500,000 level in five years.
It is not investment advice.
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