Fahrenheit LLC, a prominent investment group, has successfully outbid competitors to acquire Celsius Network.
The acquisition, finalized for a staggering $35 million per year, solidifies Fahrenheit LLC’s position as a key player in the crypto investment sector. The agreement encompasses the management of institutional loans, Celsius Network’s mining business, and a substantial $500 million in liquid cryptocurrency assets. This milestone signals a significant shift in the crypto landscape, as Fahrenheit LLC seeks to capitalize on the burgeoning opportunities in the market.
As part of the agreement, Fahrenheit LLC will oversee Celsius Network’s extensive portfolio of institutional loans. This responsibility involves managing the lending processes, risk assessment, and ensuring the timely repayment of these loans. By incorporating Celsius Network’s existing loan infrastructure.
Fahrenheit LLC’s acquisition includes the management of Celsius Network’s mining business, a crucial aspect of cryptocurrency operations. The acquisition grants Fahrenheit LLC ownership of a substantial $500 million in liquid cryptocurrency assets.