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Coinbase and Gemini Join Bid Race for Celsius Network’s Assets: Report

Leading cryptocurrency exchanges Coinbase and Gemini are parts of the two consortiums set to bid for bankrupt crypto lender Celsius Network’s assets at an auction scheduled for Tuesday, the 25th of April, 2023, according to a court filing and report from Fortune.

The court document revealed that the auction would be held at the New York offices of Kirkland and Ellis, the law firm handling Celsius’ bankruptcy, from 2 pm EPT.

One consortium seeking to take over Celsius is Fahrenheit, a group backed by blockchain-based venture capital firm Arrington Capital and its founder Michael Arrington, alongside US Data Mining Group. Other backers include Proof Group Capital Management, former Algorand CEO Steven Kokinos, and investment banker Ravi Kaza.

(by Mandy Williams)

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