ChainCatcher news, according to CoinDesk, Galaxy Digital's crypto custody company GK8, acquired a year ago, has launched the Tokenization Wizard platform, which is a platform for building blockchain-based versions of real-world assets, as well as securely managing stablecoins and various Web3 applications.It is reported that the first clients to use this tool will be the partnership between asset management company DWS, Flow Traders, and Galaxy to manage fully collateralized euro-denominated stablecoins.

According to ChainCatcher, as reported by CoinDesk, Celsius, its creditors, and Series B investors have agreed to a settlement that will distribute $25 million from the sale of Celsius subsidiary GK8 to shareholders, with $24 million allocated for legal fees and $1 million to be distributed among the group.Previous report states that as part of Celsius's bankruptcy proceedings, the self-custody platform GK8 was sold to Galaxy Digital. Additionally, Celsius completed its Series B funding round in November 2021. Growth equity firm Westcap and a pension fund from Quebec, Canada, led this round, which was oversubscribed, increasing the funding amount from $400 million to $750 million.

ChainCatcher news, cryptocurrency financial services company Galaxy Digital has completed the acquisition of institutional self-custody platform GK8, more than two months after winning the auction to acquire the bankrupt cryptocurrency lender Celsius.It is reported that the GK8 solution will continue to be launched to the market, but Galaxy is also preparing to integrate the technology into its upcoming wholesale brokerage platform GalaxyOne. Galaxy acquired GK8 for approximately $44 million, at a discount of over 60%. (CoinDesk)

ChainCatcher news, according to Bloomberg, U.S. bankruptcy judge Martin Glenn has refused to immediately approve Galaxy Digital's $44 million acquisition of Celsius Network's subsidiary self-custody platform GK8, requesting more details about the sale structure, after which the sale may be approved.Martin Glenn expressed surprise at the terms of the deal that would transfer potential legal claims from Celsius to Galaxy Digital, asking Celsius's lawyers for additional evidence regarding the value of the claims. (Bloomberg)

According to ChainCatcher news, Galaxy Digital is spending $44.1 million to acquire Celsius Network's self-custody platform GK8, which is over 60% lower than Celsius's acquisition price for GK8 last year. Celsius had acquired GK8 for $115 million in November 2021. According to a court document, the deal for GK8 was reached at a purchase price of $44 million in cash plus a $100,000 deposit.Ryan Kielty, a partner at the restructuring firm Centerview Partners, which was hired to oversee the asset auction, stated that six companies submitted initial bids when the auction process began, but only Galaxy submitted a final bid and deposit before the deadline, with terms that included requiring GK8 co-founders Lior Lamesh and Shahar Shamai to stay with the company.It is reported that the acquisition is still subject to court approval, and Galaxy Digital is expected to add nearly 40 employees. (Bloomberg)

ChainCatcher news, according to Bloomberg, Galaxy Digital has won the auction for the self-custody platform GK8, previously acquired by Celsius Network, but the terms of the deal have not been disclosed. Galaxy Digital Co-President Chris Ferraro stated that the purchase price is significantly lower than the $115 million acquisition price that Celsius paid for GK8 in November 2021. (source link)

ChainCatcher news, according to Cointelegraph, digital asset custody platform GK8 has partnered with USI Insurance Services to expand its insurance policies for institutional clients, providing up to $1 billion in coverage for each client.It is reported that the policy applies to digital assets stored in GK8's offline cold wallets, while assets stored in its multi-party computation-based institutional wallets are covered up to $125 million, to incentivize banks and other financial institutions to start investing in cryptocurrencies. (Cointelegraph)