The U.S. bankruptcy judge denied immediate approval for Galaxy Digital's acquisition of Celsius subsidiary GK8 for $44 million

ChainCatcher news, according to Bloomberg, U.S. bankruptcy judge Martin Glenn has refused to immediately approve Galaxy Digital's $44 million acquisition of Celsius Network's subsidiary self-custody platform GK8, requesting more details about the sale structure, after which the sale may be approved.

Martin Glenn expressed surprise at the terms of the deal that would transfer potential legal claims from Celsius to Galaxy Digital, asking Celsius's lawyers for additional evidence regarding the value of the claims. (Bloomberg)