The sale of Celsius—the crypto lender that was seeking a valuation of over $7 billion when it collapsed last June—took a number of twists this weekend as a bankruptcy filing revealed that two new consortiums will take part in a three-way auction for the company that is set for this Tuesday.
According to the filing, one of the new groups seeking to take over Celsius is called Fahrenheit, and is backed by well-known venture capitalist Michael Arrington along with the former CEO of the blockchain project Algorand and investment banker Ravi Kaza. The other is called Blockchain Recovery Investment Committee and is backed by the likes of Gemini Trust—owned by the Winklevoss twins—and the fund manager VanEck, which is seeking to create a crypto ETF.
