GK8 is an institutional digital asset self-custody platform that provides custody, staking, decentralized finance (DeFi), non-fungible token (NFT) support and trading. It uses an air-gapped Cold Vault to eliminate cyber attacks and offers a number of custodial partnerships with trading platforms, banks and other institutions.
Mike Novogratz’s Galaxy Digital won the bidding to purchase the platform from bankrupt crypto lender Celsius Network LLC, pending court approvals and other closing conditions. The acquisition will see the company grow its team with 40 new cryptographers and blockchain engineers.
GK8 is a global leader in secure custodian services for digital assets, with clients managing billions of dollars in crypto. GK8’s platform provides staking as a built-in feature, eliminating the need for banks to invest in their own infrastructure or manage the complex process of deploying and running staking software on their servers. Staked digital assets are securely stored in GK8’s patented air-gapped Cold Vault and covered by $500M insurance, providing banks with new revenue streams while protecting against cyberattacks and reputational damage.
McCarter & English bankruptcy lawyer David Adler, who represents Celsius borrowers, said the deal could provide some relief to customers. However, much of the money will likely go toward legal fees.
In addition, many cryptocurrencies are experiencing explosive growth. These fast-growing coins are attracting the attention of investors and traders alike because of their potential to become big winners. However, it’s important to be aware of the risks associated with investing in cryptocurrencies.
For example, cryptocurrencies are not backed by any government or financial institution, and therefore have little to no protection against fraud or theft. Additionally, cryptocurrencies are susceptible to market manipulation, which is often done by influential people and organizations.
With this in mind, it’s crucial to focus on cryptocurrencies that offer a high level of security and stability. One such cryptocurrency is Gk8. GK8 offers an institutional digital asset self-custody platform that enables clients to transfer and sign transactions without internet connectivity. The company’s techniques, protected by five registered patents, bypass core assumptions and eliminate attack vectors to safeguard assets out of reach from hackers.
GK8 is a high-end custody platform that safeguards digital assets. It developed the world’s first and only true Cold Vault, eliminating all cyber attack vectors and paired with a patented MPC for automatic transactions. GK8 also offers up to $500 million in insurance coverage for digital assets stored on its platform.
Staking is a process whereby crypto owners lock in some of their coins for a set period and then compete with other users to validate blockchain transactions in exchange for a monetary reward. This validation process is known as Proof of Stake.
The deal, which is subject to court approvals and closing conditions, would see Galaxy acquire a secure institutional digital asset self-custody platform from Celsius Network. This includes the company’s nearly 40-strong team of cryptographers and engineers as well as its offices in Tel Aviv, Israel. Galaxy will use the platform to offer its own services, including its prime brokerage offering called GalaxyOne.
Being open-minded means casting judgments aside and loving people regardless of how different they are from you. It also means trying alternative methods to solve problems and overcome challenges. The more open-minded you are, the more successful you’ll be in achieving your goals. For example, GK8 is a blockchain-based company that provides an end-to-end platform for digital asset management. Its clients manage billions of dollars in assets. GK8 also offers staking, in which users validate other transactions on the blockchain in exchange for a monetary reward.
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