Galaxy Digital has agreed to buy GK8, the digital asset self-custody technology firm owned by bankrupt crypto lender Celsius. Israel’s GK8 was acquired by Celsius for $115 million in November last year, with Celsius entering Chapter 11 bankruptcy in July. In August, Galaxy terminated a $1.2 billion agreement to buy custodian BitGo, a deal originally announced in May 2021.
“The acquisition of GK8 is a crucial cornerstone in our effort to create a truly full-service financial platform for digital assets, ensuring our clients will have the option to store their digital assets at or separate from Galaxy without compromising versatility and functionality,” said Mike Novogratz, Founder and CEO of Galaxy.
“Adding GK8 to our prime offering at this pivotal moment for our industry also highlights our continued willingness to take advantage of strategic opportunities to grow Galaxy in a sustainable manner.”
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