Fahrenheit Consortium Wins Auction for Crypto Lender Celsius' Assets
investopedia.comCrypto consortium Fahrenheit, which includes Arrington Capital and US Bitcoin Corp., won the bid to purchase the assets of insolvent crypto lender Celsius, court filings showed Thursday.
Celsius filed for Chapter 11 bankruptcy in July last year after not being able to keep up with customer's redemption requests, and as a part of the bankruptcy process sought a buyer via auction to revive its crypto lending and mining businesses in April 2023.
The Fahrenheit consortium won the three-way auction, which also saw bids from Blockchain Recovery Investment Committee and crypto asset manager NovaWulf.
Fahrenheit, led by Arrington Capital and US Bitcoin Corp, will take control of Celsius's institutional loan portfolio, staked cryptocurrencies, mining unit, and alternative investments.
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