Celsius was a well-known cryptocurrency lending platform. The Celsius  platform’s financial status declined in May of last year as a result of a  very unpredictable market environment.

A recent court document listed the consortiums that intended to  participate in the Celsius auction on April 25. These businesses are led  by former Algorand CEO Steven Kokinos, Fahrenheit by venture capital  company Arrington Capital, Proof Group Capital Management, and  investment banker Ravi Kaza.

Michael Arrington, the owner of Fahrenheit, mentioned Coinbase as one of  the organizations supporting the Fahrenheit consortium.

Blockchain Recovery Investment Committee is another bidder for the  failed cryptocurrency lending facility on the Celsius exchange. The  cryptocurrency exchange Gemini is one of the platform’s supporters.