The crypto consortium Fahrenheit has emerged as the winning bidder in the acquisition of the insolvent lender Celsius Network. As reported in a press release, the consortium, supported by Bitcoin Corp., Arrington Capital, Proof Group, Steven Kokinos, and Ravi Kaza, will take ownership of Celsius’s institutional loan portfolio, staked crypto assets, Bitcoin mining unit, and other crypto-related investments. To establish and operate the new public, regulation-compliant company, Fahrenheit will provide the necessary capital, management team, and technology. The company will receive liquid cryptocurrency estimated to be between $450 million and $500 million.
In legal news, Alexander Vinnik, a Russian citizen and co-founder of the supposedly illicit crypto exchange BTC-e, is currently facing US money laundering charges. Vinnik’s lawyer is campaigning for his inclusion in any prisoner exchange between Russia and the US, a move that could lead to the release of detained Wall Street Journal reporter Evan Gershkovich. David Rizk, an assistant federal defender in the Northern District of California, stated that a successful exchange will require a strong public campaign to “maximize the chances.”
Meanwhile, ex-basketball star Shaquille O’Neal was recently served by lawyers for FTX investors at a playoff basketball game in Miami. O’Neal is accused of founding and promoting a Solana-based nonfungible token project called Astrals, which the lawsuit alleges are “unregistered securities.” Additionally, Terra/LUNA co-founder Do Kwon and CFO Han Chang-Joon will remain in detention in Montenegro, as the court revoked their previously approved request for bail. The next hearing is scheduled for June 16.
In exchange news, Bitpanda announced a collaboration with Coinbase to connect the US exchange with banks in Europe interested in offering digital assets to their clients. By partnering with Bitpanda Technology Solutions, Coinbase can now provide a fully regulated, flexible, and scalable 24/7 trading infrastructure to their institutional clients outside the United States. This collaboration creates a new European investment solution that “mirrors Coinbase’s standards in safety and security.” Additionally, Bitpanda will add Coinbase to its network of approved liquidity providers.
Finally, Bitfinex revealed a new investment in the Chilean crypto firm Orionx. Both companies aim to promote financial freedom and inclusion throughout Latin America. Bitfinex will gain a significant foothold in Latin America, indirectly reaching millions of users and supporting common education programs for local universities. On the other hand, OrionX will benefit from Bitfinex’s expertise and network in crypto trading, as well as its product features across trading, staking, and lending within the crypto sphere.
Source: Cryptonews
