Gemini, Coinbase Bid For Celsius
According to court documents and rumours, cryptocurrency exchanges Gemini and Coinbase are reportedly among the bidders for the assets of insolvent crypto lender Celsius Network. Two consortiums will compete in the auction, which is slated on April 25 in New York, against NovaWulf Digital Management, the “stalking horse bidder.” Arrington Capital, Proof Group, and blockchain investor Michael Arrington all support the first consortium, Fahrenheit.
The assets of the Celsius Network up for sale, according to court documents, include cryptocurrency loans made by Celsius to its consumers as well as intellectual property, customer data, and customer data. The fact that Gemini and Coinbase entered the bidding war shows that they are still interested in purchasing promising crypto companies, especially those in the lending sector.
(With inputs from Shikha Singh)
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