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Goldman Sachs reportedly eyeing Celcius assets

Goldman Sachs is reportedly seeking to raise $2 billion to buy Celsius assets. The crypto lender is on a tightrope today.

When Celsius has been cutting its services and withdrawals for more than two weeks now on its platform in order to avoid bankruptcy, the investment bank Goldman Sachs 8 is reportedly seeking to raise $2 billion to buy the assets of the crypto-lending specialist.

The proposed deal would allow investors to buy Celsius’s assets at potentially deep discounts in the event of a bankruptcy filing, people familiar with the matter said.

For the analysis Company Kaiko, Celsius had no alternative but to freeze transactions to avoid going out of business. The crypto lender has a limited number of options to hope for a reboot. Earlier this week, the London-based company warned that stabilizing cash “would take time” without specifying a reopening date.

Recently, the Wall Street Journal reported that Celsius had hired restructuring law Aki Gump Strauss Hauer & Feld LLP to deal with the current situation.

— Celsius said it had $11.8 billion in assets as of May and has 1.7 million users; it froze withdrawals, swaps, and transfers earlier this month because of extreme market volatility. The value of its assets has fallen from about $25 billion in October; the Journal reported (1)