A US bankruptcy judge refused to immediately approve Galaxy Digital's acquisition of Celsius subsidiary GK8

On December 9, US Bankruptcy Judge Martin Glenn declined to immediately approve Galaxy Digital's $44 million acquisition of Celsius Network subsidiary GK8, Asked for more details about the structure of the sale, which could be approved after that. It is understood that the provision transferred a potential legal claim from Celsius to Galaxy and Martin Glenn requested that Celsius's attorneys provide additional evidence regarding the value of the claim. As previously reported, Galaxy Digital has won an auction for GK8, a self-hosting platform previously acquired by Celsius Network, for $44.1 million, significantly less than the $115 million Celsius paid in November.