Gemini and Coinbase join Celsius auction as bidders.

Two consortiums, including Gemini and Coinbase, will bid for the assets of bankrupt crypto lender Celsius Network in an auction scheduled for April 25 in New York. The first bidder, NovaWulf Digital Management, has proposed a direct cash contribution of $45 million to $55 million and the creation of a new public platform wholly owned by Celsius creditors. The second group bidding for Celsius assets is the Blockchain Recovery Investment Committee, backed by Gemini, VanEck, Global X Digital, and Plutus Lending. The Fahrenheit consortium, backed by Arrington Capital, also proposes the creation of a new company to grow the assets and make stakeholders whole.