Celsius

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  <p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/crypto-live-news/celsius-sells-gk8-for-25-million-and-spends-96-on-legal-fees/">Celsius Sells GK8 for $25 Million, and Spends 96% on Legal Fees!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
  <p>Celsius, a crypto-lending firm, has requested relief from the court related to the distribution of funds from the sale of the self-custody platform, GK8. The Series B holders have agreed on a compromise to divide $25 million from the returns of GK8’s sale, with $24m allocated for legal expenses and the remaining $1m to be distributed among the holders. The settlement aims to avoid costly litigation and a lengthy verification process with a corresponding growth in professional fees. Celsius acquired GK8 in 2021 for $115m but had to sell it as part of its restructuring plan.</p>
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Celsius Sells GK8 for $25 Million, and Spends 96% on Legal Fees!

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