Crypto Climate Control: Ironically Fahrenheit Acquires Celsius With Billion Dollar Lifeline
Portfolio Pulse from Murtuza Merchant
Cryptocurrency consortium Fahrenheit has won the auction for bankrupt lender Celsius Network (CRYPTO: CEL), with assets previously estimated to be worth around $2 billion. The deal includes Celsius's institutional loan portfolio, staked cryptocurrencies, mining unit, and alternative investments. Regulatory approval is still required to close the deal.
May 25, 2023 | 3:37 pm
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Fahrenheit's acquisition of Celsius Network (CRYPTO: CEL) could provide a lifeline for the bankrupt lender, but regulatory approval is still required.
Fahrenheit's acquisition of Celsius Network could provide a much-needed lifeline for the bankrupt lender, potentially leading to a positive short-term impact on its cryptocurrency. However, the deal is still subject to regulatory approval, which introduces some uncertainty.
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