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Celsius Network’s Asset Management Company NovaWulf Open to Better Offers

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On March 9, Chris Koenig, a lawyer of Celsius Network, revealed at a hearing in the Manhattan Bankruptcy Court on Wednesday that although the asset management …

Celsius Networks Asset Management Company NovaWulf Open to Better Offers

On March 9, Chris Koenig, a lawyer of Celsius Network, revealed at a hearing in the Manhattan Bankruptcy Court on Wednesday that although the asset management company NovaWulf Digital Management had made an offer, the company was still open to a better offer, and it and its creditor committee met with a potential buyer two days ago to review the alternatives.

Celsius is still open to other bids, despite NovaWulf’s previous bid

Analysis based on this information:


At a hearing in the Manhattan Bankruptcy Court on March 9, Celsius Network’s lawyer, Chris Koenig, announced that NovaWulf Digital Management had received an offer, but they are still open to better acquisition opportunities. NovaWulf is an asset management company owned by Celsius Network, a leading cryptocurrency lending platform.

The representatives of NovaWulf and its creditor committee met with a prospective buyer just two days prior to the hearing to explore additional options. The goal was to review the proposal in depth and analyze the potential opportunities that might emerge from a new buyer.

The hearing was conducted remotely regarding the ongoing saga of Celsius Network’s subsidiary’s bankruptcy filing. The hearing was not related to the asset management unit’s post-bankruptcy developments, but the updates that surfaced indicate that NovaWulf is still an active part of the Celsius Network’s future plans.

The primary business of NovaWulf is to offer a secure and robust digital asset management platform, catering to high-volume traders, institutional clients, market makers, and other businesses. NovaWulf also provides index solutions and fund management services that adhere to anti-money laundering (AML) and anti-terrorism financing (ATF) compliance standards.

Celsius Network will now review the offers and assess their strategic value while adhering to its fiduciary responsibility. The team will observe the ongoing market trends and changes in the industry and assess buyer preferences accordingly.

In summary, NovaWulf Digital Management, owned by Celsius Network, is keeping its options open regarding acquisition opportunities. The company recently reviewed a proposal from a potential buyer, but the negotiation is still in progress, and Celsius Network is committed to reviewing other options that come their way.

Keywords such as Celsius Network, NovaWulf Digital Management, Asset Management, Bankruptcy Court, and Potential Buyer capture the essence of the message. NovaWulf’s outlook for the future remains to be seen as buyers could possibly enter into negotiating with the company, allowing for more opportunities to emerge.

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