Sunday, June 4, 2023

Fahrenheit wins bid to acquire assets of crypto lender Celsius By Cointelegraph


Court filings have revealed that cryptocurrency consortium Fahrenheit emerged as the successful bidder to acquire insolvent crypto lender Celsius Network. The acquisition involves Celsius assets previously valued at approximately $2 billion.

The court filings, submitted in the early hours of May 25, show that the consortium will obtain Celsius Network’s institutional loan portfolio, staked cryptocurrencies, mining unit and other alternative investments. The group must make a $10 million deposit within three days to finalize the agreement.