Wall Street investment giants are engaged in a bidding war for what remains of the now-bankrupt crypto lender Celsius Network.

Two groups, each backed by Apollo Global Management and certain senior executives at Fortress Investment Group, are vying to restart Celsius' business under new management.

Both groups have proposed to inject around $50 million into Celsius to get the business restarted as a publicly traded company owned mostly by its creditors.

The investors' plan reportedly includes increasing Celsius' crypto mining business, but restarting the lending business is not currently on the table.