Crypto lending platform Celsius Network has acquired Israeli crypto custody technology firm GK8 for $115 million. The centralized lending platform has almost $27 billion in assets under management. Last month it announced that it raised $400 million from WestCap and Caisse de dépôt et placement du Québec at a $3 billion valuation.
Celsius says it’s now able to provide an “all-in-one platform built for banks and financial institutions.” Yet the company’s tagline is “unbank yourself.”
While Celsius has a California lending license, many regulators consider crypto lending as a securities activity. As a result, several states are taking action against Celsius
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