Cryptocurrency lending firm Celsius has sold its self-custody platform GK8 for $25 million after purchasing it for $115 million in 2021. The sale proceeds will be used to cover legal fees, with 96% of the funds allocated for this purpose. Celsius has requested the court's approval for the distribution of the remaining $1 million among its Series B holders. The settlement aims to reduce administrative costs and avoid lengthy litigation. Celsius has been dealing with legal issues, including a lawsuit from the U.S. Securities and Exchange Commission and a fine from the U.S. Federal Trade Commission.
