{"id":70918,"date":"2022-12-02T18:08:53","date_gmt":"2022-12-02T16:08:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70918"},"modified":"2025-09-08T05:00:00","modified_gmt":"2025-09-08T02:00:00","slug":"galaxy-digital-buys-gk8-custodian-from-celsius-network","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/galaxy-digital-buys-gk8-custodian-from-celsius-network\/","title":{"rendered":"Galaxy Digital buys GK8 custodian from Celsius Network"},"content":{"rendered":"

Galaxy Digital, led by Mike Novogratz, won<\/a> an auction to buy GK8, the custody platform from the bankrupt Celsius Network <\/a>.<\/p>\n

Terms of the deal were not disclosed. Galaxy’s co-president Kris Ferraro told CoinDesk<\/a> in an interview that the asset cost the firm under $115 million, which Celsius paid for it last year<\/a>.<\/p>\n

The Israeli startup positioned its platform as a cold-storage solution for financial institutions, supporting various cryptocurrencies, decentralized applications and staking.<\/p>\n

The company said it would integrate GK8’s technologies into the GalaxyOne service. It is expected to provide institutional investors with a combination of trading, lending, and asset management in a single solution.<\/p>\n

\n

“Acquiring GK8 is a cornerstone of our efforts to build a comprehensive digital-asset financial platform, enabling clients to store their assets both in Galaxy’s service and beyond it, without compromising functionality,” said Novogratz.<\/p>\n<\/blockquote>\n

After the deal closes, the startup’s team of about 40 people will join Galaxy. The project’s co-founders, Lior Lamash and Shahar Shamai, will head the firm’s custody business. The U.S.-based cryptocurrency company will expand its geographic reach with an office in Tel Aviv.<\/p>\n

In October the auction plan<\/a> for Celsius assets was approved.<\/p>\n

In November, layoffs at Galaxy<\/a> were reported.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices, and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Galaxy Digital, led by Mike Novogratz, won an auction to buy GK8, the custody platform from the bankrupt Celsius Network.<\/p>\n","protected":false},"author":1,"featured_media":70919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[770],"class_list":["post-70918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-galaxy-digital"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70918"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70918\/revisions"}],"predecessor-version":[{"id":70920,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70918\/revisions\/70920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70919"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}