Blockchain
Novogratz’s Galaxy Digital acquires Celsius’ GK8 in bankruptcy garage sale
Galaxy Digital Holdings, led by Mike Novogratz, has won the bid to purchase GK8, a self-custodial platform for digital assets owned by Celsius Network — pending court approvals and certain closing terms.
According to the December 2 blog Mail From GK8 and the press Release From Galaxy, if the acquisition proceeds, Galaxy will acquire the platform team of approximately 40 people as part of the deal including cryptographic engineers, blockchain engineers, and the GK8 team office in Tel Aviv.
GK8 is a self-custodial blockchain-based asset management platform that provides custody, staking, DeFi, NFT support, tokenization and trading.
The team behind the platform claims that it can perform secure blockchain transactions offline, which greatly reduces the risk of hacking.
Celsius Acquired GK8 in 2021 for $115 million, though Galaxy did not disclose how much it offered the company.
Galaxy founder and CEO Mike Novogratz called the acquisition “a critical cornerstone in our efforts to create a full-service financial platform for digital assets.”
“The addition of the GK8 to our flagship offering at this pivotal moment for our industry also highlights our continued desire to take advantage of strategic opportunities to grow Galaxy in a sustainable way,” he added.
Galaxy intends to support GK8’s ongoing operations while leveraging its technology to develop its GalaxyOne trading platform.
GK8’s founders, including CEO Lior Lamesh and CTO Shahar Shami, are expected to remain with the company and lead the new Galaxy guardianship business.
“Powered by Galaxy, we aim to deliver exciting new offerings to the industry that showcase a combination of best-in-class Galaxy services, GK8 encryption and security, and unparalleled R&D skills,” said Lamesh.
Related: Mike Novogratz: Bankman Fried is “fake” and they’re headed to jail
It was below zero bankruptcy procedures Since filing for Chapter 11 bankruptcy protection On July 13 he discusses plans to sell some of his assets.
In the court filing, Celsius CEO Alex Mashinsky The company indicated it could Sell the Bitcoin (BTC) mined from the mining operation to help pay off at least one of its loans and provide future revenue for the company.
During his September 15 filing with the United States Bankruptcy Court for the Southern District of New York, Celsius asked Permission to sell its stablecoin collectibles.
Galaxy Digital was recently named in a $100 million lawsuit by institutional crypto custodian service and wallet operator BitGo for dropping its plans to acquire the company.
Galaxy terminated its May 2021 agreement to acquire the company on August 15, 2022, citing breach of contract by BitGo when it allegedly failed to deliver audited financial statements by July 31, 2022.
BitGo then revealed on September 13 that it was Seeking more than $100 million in damages, accusing Galaxy of “improper disavowal” and “willful breach” of its acquisition agreement with BitGo.
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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.
Key levels:
Resistance levels: $300, $310, $320
Support levels: $130, $120, $110 BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.
According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.
However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.
Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.
However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.
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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.
Key levels:
Resistance levels: $2.00, $2.20, $2.40
Support levels: $0.50, $0.30, $0.10 DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.
the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.
Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).
Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.
Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.
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Dash 2 Tadawul – High Potential Pre-Selling
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Bancor Prediction Statistics Data:
BNT/USD market
Bancor Price Prediction: Bancor is preparing for an upward movement
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dYdX prediction stats data:
DYDX/USD Market
dYdX Price Prediction: DYDX is ready for an uptrend
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