U.S. Judge Refuses to Immediately Approve Galaxy Digital's Acquisition of Celsius Subsidiary

U.S. Bankruptcy Judge Martin Glenn refused to grant immediate approval for Galaxy Digital to acquire Celsius subsidiary GK8 for $44 million.

At Thursday's hearing, he asked Celsius lawyers to provide additional evidence about the value of the claim and would consider approving the acquisition when the evidence was sufficient, said Martin Glenn. He also said the sale documents contained a clause that would have transferred potential legal claims from Celsius to Galaxy Digital.

Previously, Galaxy Digital won a bid for Celsius subsidiary GK8 for $44.1 million.