Celsius Acquiring Israeli Cybersecurity Company GK8 for $115M


Cryptocurrency lender Celsius Network is buying Israeli cybersecurity firm GK8, the corporate announced Monday.

  • GK8 was based by Lior Lamesh and Shahar Shamai, who’ve labored as cybersecurity consultants on the workplace of the Prime Minister of Israel.
  • Celsius and GK8 will now present an enterprise-grade custody platform for banks and monetary establishments providing digital asset providers safety from cyber assaults.
  • GK8 serves banks, monetary establishments, crypto exchanges or platforms, central financial institution digital foreign money (CBDC) initiatives, household workplaces and hedge funds.
  • In September, Celsius Network acquired a cease-and-desist order from Kentucky’s securities regulator over curiosity earned on sure crypto accounts. The regulator stated the accounts violated securities legal guidelines and didn’t confide in clients what occurs to their deposits and whether or not they’re protected.

Read extra: Crypto Lender Celsius Network Raises $400M in Bid to Reassure Regulators