TechFlow reported, according to Coindesk, that sources revealed private equity giant Apollo Global Management is participating in the bidding for bankrupt crypto lending platform Celsius. Celsius has publicly confirmed several entities attempting to acquire the company. Apollo is among the investors involved in the acquisition proposal submitted by digital asset investment firm NovaWulf.
According to an investor report, once NovaWulf secures the acquisition, its investors will receive management fees and incentive fees tied to the net asset value (NAV) of the restructured Celsius assets. The document does not mention Apollo by name or detail its transaction terms with NovaWulf.
Previously, Celsius tweeted that eligible users would be able to withdraw 100% of their distributable custodial assets (minus certain transaction fees) starting May 5.
