Galaxy Digital acquires self-hosted platform GK8 for $44.1M, more than 60% less than Celsius' previous acquisition

Galaxy Digital won the auction for self-hosted platform GK8, previously acquired by Celsius Network, for $44.1 million, more than 60 percent less than Celsius’ $115 million purchase price last November, according to Bloomberg. Ryan Kielty, a partner at the restructuring group Centerview Partners hired to oversee the auction of the assets, said six firms had submitted initial bids at the start of the auction process, but only Galaxy had submitted a final bid and bond by an agreed deadline, whose terms included GK8 co-founders Lior Lamesh and Shahar Shamai were asked to stay with the company.