Mike Novogratz’s Galaxy Digital agrees to buy high-security custodian GK8 from bankrupt crypto lender Celsius; Celsius acquired GK8 for $115M in late 2021 (Adam Morgan McCarthy/The Block)

CoinDesk:
Sources: Galaxy Digital, the digital assets financial services company run by Michael Novogratz, plans to cut 20%+ of its workforce; its stock is down ~80% YoY  —  CoinDesk estimates that around 11,700 crypto jobs had been lost as of mid-October as a result of the crypto winter.

Ryan Weeks / The Block:
Court filing: Alameda Research plans to repay ~$128M in bitcoin and ~$70M in ether to bankrupt crypto lender Voyager and will reclaim ~$160M in collateral  —  – Crypto trading firm Alameda Research will repay two large loans demoninated in bitcoin and ether.  — Once repaid, Alameda will reclaim some $160 million in collateral.

Vicky Ge Huang / Wall Street Journal:
Celsius co-founder and CEO Alex Mashinsky resigns from the bankrupt cryptocurrency lender, writing his “role as CEO has become an increasing distraction”  —  The crypto lender filed for bankruptcy in July  —  Alex Mashinsky—chief executive and cofounder of bankrupt cryptocurrency …

Paul Vigna / Wall Street Journal:
Sources: Binance has made a leading bid of about $50M for the assets of bankrupt crypto-lender Voyager Digital, slightly higher than FTX’s competing bid  —  The exchanges both made bids near $50 million.  Voyager’s market cap was $3.9 billion in 2021  —  1x

Emily Nicolle / Bloomberg:
Filings: London-based crypto custody startup Copper raised $196M as part of an ongoing Series C; Copper was reportedly valued at $3B in November 2021  —  Crypto custodian Copper Technologies Ltd has obtained $196 million in fresh funding this year, as part of an ongoing series C investment in the business.

Olga Kharif / Bloomberg:
Sources: FTX is in the process of raising $1B as Sam Bankman-Fried considers bidding for bankrupt lender Celsius Network’s assets  —  Sam Bankman-Fried, the crypto billionaire who has been bailing out distressed industry players in recent months, is considering bidding for the assets …