The investment bank Goldman Sachs looks set to acquire Celsius assets for $2 billion although the move is still unclear
Goldman Sachs Makes Plan To Purchase Celsius Assets
It is obvious that the cryptocurrency lender is in a terrible moment as significant liquidations continue on the Celsius network platform. According to numerous sources, investment banking behemoth Goldman Sachs has begun making plans to buy Celsius assets.
Sources claim that Goldman Sachs intends to ask for $2 billion in fund commitments from investors. According to the sources, the top investment bank is attempting to take advantage of Celsius’ predicament by purchasing the company’s assets for a steep discount.
A couple of weeks ago, Celsius Networks officially announced that withdrawals were no longer possible through the platform. The cryptocurrency lender attributed its behavior to the state of the market.
According to a report issued by the company last month, Celsius had provided more than $8 billion in loans to numerous consumers. The company also oversees assets worth close to $12 billion. However, since the collapse of the cryptocurrency market, the crypto lender has been having trouble with liquidity.
Goldman Sachs is taking money commitments from web3 crypto funds into consideration. According to the report, the bank is in discussions with funds that focus on distressed asset purchases. Even though cryptocurrency would make up the majority of Celsius assets, customers would purchase them below market value.
