6/25/2022 0 Comments
With a $2 billion crowdfunding program, Goldman Sachs has begun an interest in purchasing Celsius assets.
According to a couple of sources, Goldman Sachs has been targeting investors in Web3 crypto funds that specialize in distressed assets as well as traditional financial institutions.
Goldman Sachs, one of the world's largest financial institutions, has begun its journey to become one of the largest crypto whales.
According to publicly available information, Goldman Sachs is working on a $2 billion program to purchase Celsius debt. The majority of Celsius assets would almost certainly be cryptocurrencies managed by participating investors.
Celsius was a leading crypto lender in the space, with approximately $12 billion in assets under management and 1.7 million users.
If Celsius declares bankruptcy, Goldman Sachs will receive the crypto assets in exchange for a large deal, most likely one of the largest crypto crash deals in 2022. This scenario appears plausible given that Celsius recently hired a new firm to advise it on the bankruptcy filing.
According to sources, Citigroup and Akin Gump advised Celsius to file for bankruptcy.
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