Connect with us

Hi, what are you looking for?

Jewish Business News


Celsius Acquires GK8 for $115 Million


Celsius is buying out Israeli fintech company GK8 for $115 million, according to a report in Calcalist. GK8 is a cybersecurity company that offers an enterprise-grade custody solution for managing and safeguarding digital assets,

Celsius Networks is an Israeli startup – and a unicorn — that deals with cryptocurrencies like Bitcoin. In October, Celsius completed a $400 million investment led by WestCap, a growth equity firm, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group. The raise gave Clesius a valuation of more than $3 billion.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The company says that its platform offers services that have been abandoned by traditional banks. These include “fair” interest, no fees, and speedy transactions.

Celsius Networks boasts over 1 million users that the company says earn up to 17% yield on their crypto investments. Celsius says that users get paid new coins every week and borrow cash at 1%, while allowing people to borrow, and transfer with no fees.

GK8 founders and most of the R&D team are veterans of Israel’s elite cyber-security units, protecting the nation’s strategic assets from state level hackers. The company boosts that its new upgrades enable the “highest level of TRUE Cold Vault security that is matched with the ease and usability of the MPC Vault – allowing users to authorize a transaction without connecting to the Internet via GK8’s patented unidirectional technology, leaving prospective attackers with no exploitable openings.” In addition, GK8 has an arrangement with AON UK for customers to quickly and seamlessly access insurance for up to $500 million per vault, the highest on the market.

“Our goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.”

Celsius recently reported that as of October 8, 2021, total assets crossed the $25 billion threshold – including more than 1 million customers registered with the platform – having paid more than $850 million in interest to users through its Earn product in just over three years.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News