<a href="https://www.cryptoknowmics.com/news/galaxy-digital-collaborates-with-blockchain-oracle-provider-chainlink">Galaxy Digital,</a> a financial services provider with a <a href="https://www.cryptoknowmics.com/news/tradfi-giant-tp-icap-acquires-a-uk-cryptocurrency-license">cryptocurrency</a> emphasis founded by Mike Novogratz, <a href="https://www.galaxy.com/newsroom/galaxy-to-acquire-leading-custody-platform-gk8/" target="_blank" rel="nofollow noopener">announced</a> in a press release on Friday that it had secured the bid to acquire the self-custody platform GK8 from the defunct cryptocurrency lender <a href="https://www.cryptoknowmics.com/news/celsius-network-founder-withdrew-10mn-ahead-of-bankruptcy">Celsius Network</a>.

https://twitter.com/GK8_Security/status/1598699815910752256
<h2>Galaxy Digital Intends to Increase Scope</h2>
Although financial details of the transaction were kept under wraps, Galaxy spokesperson Michael Wursthorn claimed the amount was significantly less than what Celsius spent a year earlier. According to reports, Celsius paid $115 million to purchase GK8 in November 2021.

With the purchase, Galaxy hopes to increase the scope of its prime brokerage services. The workforce at Galaxy would grow to about 40 employees, including cryptographers and <a href="https://www.cryptoknowmics.com/news/ibm-and-maersk-to-shut-down-tradelens-logistics-blockchain">blockchain</a> technologists. According to the company, the purchase, which is pending regulatory clearance, will increase Galaxy's worldwide reach by adding a new office in <a href="https://www.cryptoknowmics.com/news/israeli-govt-and-tel-aviv-stock-exchange-collaborate-to-issue-digital-state-bond">Tel Aviv</a>, Israel.
<h2>GK8 Premier Offering</h2>
In the statement, Novogratz, the company's founder and CEO, said adding GK8 to the premier offering at this crucial time for the business also underlines the continuous commitment to take advantage of potential opportunities to build Galaxy sustainably.

Celsius filed for bankruptcy protection in July and offered some of its assets for sale in response to a decline in the cryptocurrency industry.

Galaxy Digital to Purchase Custodian GK8 from Insolvent Celsius

Galaxy Digital announced that it had secured the bid to acquire the self-custody platform GK8 from the defunct cryptocurrency lender Celsius Network.

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Galaxy Digital to Purchase Custodian GK8 from Insolvent Celsius

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