Celsius named Fahrenheit, an association of various crypto companies and investors, the successful bidder in the auction for the bankrupt crypto lenders assets on Wednesday, according to a court filing.
Fahrenheit is composed of venture capital firms Arrington Capital and Proof Group, mining group U.S. Bitcoin, as well as investors Steven Kokinos and Ravi Kaza. Kokinos was the CEO of Algorand, and Kaza is a longtime venture capitalist and digital assets investor.
As part of the bid, the consortium plans to create a new publicly traded company with assets from Celsius, which include the lenders mining and decentralized finance crypto holdings, institutional loan portfolio, private equity and venture capital investments, and $500 million i…
Read the full article at: https://fortune.com/crypto/2023/05/25/celsius-fahrenheit-crypto-bankruptcy-auction/