Galaxy Digital to Purchase GK8 from Failed Lender Celsius
In a Friday announcement , financial services and investment management company Galaxy Digital revealed plans to purchase asset custody solution GK8. The firm, led by Mike Novogratz, won a bid allowing it to acquire GK8 from Celsius network under the lender’s bankruptcy proceedings. Galaxy to Implement GK8’s Custody Technologies GK8 is a blockchain-focused cybersecurity provider for financial institutions to store their digital assets. The platform also allows users to perform transactions without an internet connection. In their release, Galaxy digital noted that it was set to bolster GK8’s custody solutions. Notably, the publication explained that Novogratz’s company will keep operations running in the self-custody company. GK8 will continue to provide its services to the “world’s leading financial services firms.” However, Galaxy will incorporate the custody platform’s technology in the creation of its forthcoming GalaxyOne rollout. Galaxy digital describes GalaxyOn...