Crypto lender Celsius sells GK8 platform for $25 million - creditors walk away empty-handed

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Crypto lender Celsius has found itself in a lengthy bankruptcy process after acquiring the GK8 platform less than a year ago. It has now been announced that Celsius has agreed to sell the self-custody platform. However, the selling price of $25 million is a significant loss compared to the original purchase price. Despite the sale of the GK8 platform, creditors will not benefit from the proceeds. Instead, most of the money will be used to pay legal fees. A total of $24 million will be set aside to cover legal costs incurred in the bankruptcy process. Only $1 million will...


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