Goldman Sachs Aims to Raise $2B to Buy Celsius’ Crypto Assets at a Discount: Reports

If the situation with Celsius worsens any further and the company has to file for bankruptcy, Goldman wants to be ready to buy up crypto assets at a discount. As such, the Wall Street behemoth aims to raise $2 billion, reports say.

CryptoPotato reported the drama that unfolded with Celsius earlier this month when the crypto lender halted withdrawals, as well as all other services on its platform. Yet, that happened only after it transferred more than $300 million in digital assets to FTX.
The services are still inoperational, while the firm’s CEO reassured the team is “working around the clock” to resolve the problems. Celsius also hired restructuring lawyers, but it had to pause any social media interactions with clients.
Citing sources familiar with the matter, CoinDesk reported on Friday that Goldman Sachs wants to get involved after previous investors refuted to bail out the crypto lender.
Goldman plans to raise $2 billion from investors to purchase hugely discounted digital assets from Celsius, should the latter file for bankruptcy.
Thus, the giant bank continues to dig deeper in the cryptocurrency industry, following talks with FTX for derivatives services, collateralizing BTC for bitcoin-backed loans, and a lot more years after bashing it.
Celsius, on the other hand, also received offers to sell its assets to Nexo. More recent reports indicated that another Wall Street household name – Citibank – wants to get involved as well.

Read More?

Post is imported from RSS feed, by one of our guest editors. G6 does not edit or moderate the content. G6 is not responsible for your actions. No rights owned by G6. To remove the post, please email us at [email protected]

No Comments

Sorry, the comment form is closed at this time.