Fahrenheit to Acquire Assets of Bankrupt Crypto Lender Celsius

In a significant development in the crypto industry, the insolvent lender Celsius Network has announced that the Fahrenheit consortium has emerged as the winning bidder to acquire a significant portion of its assets. This acquisition marks a pivotal moment in the Celsius bankruptcy proceedings and potentially charts a new course for the future of the platform's holdings.

According to court filings published on Thursday, Crypto Consortium Fahrenheit has won the bid to acquire bankrupt crypto lender Celsius Network. The agreement signifies a substantial shift in ownership and control over key Celsius assets.

Fahrenheit has secured the acquisition of Celsius Network’s institutional loan portfolio, staked cryptocurrencies, mining units, and other alternative investments. This diverse portfolio represents a considerable value and strategic importance within the crypto ecosystem.

The new firm resulting from this acquisition will acquire about $450 to $500 million worth of liquid crypto assets. It is worth mentioning that the assets of the Celsius Network were highly sought after during the bidding process, reflecting their potential for future growth and profitability.

The acquisition by Fahrenheit represents a significant restructuring of the Celsius Network's assets and operations following its bankruptcy filing. The deal is subject to final court approval and regulatory reviews.