Following a bankruptcy process, the assets of the failed crypto lender Celsius Network are about to be acquired by a consortium called Fahrenheit. Behind this name, you will find a group of bidders led by investment firm Arrington Capital.
The other members of the consortium are crypto mining firm US Bitcoin Corp., Proof Group, Steven Kokinos and Ravi Kaza. As the name suggests, Arrington Capital is led by Michael Arrington, the founder of TechCrunch. Michael Arrington left TechCrunch in 2011.
There were two other bidding rivals — NovaWulf and the Blockchain Recovery Investment Consortium