Goldman Sachs Reportedly Raising $2 Billion to Buy Celsius 

Goldman Sachs Reportedly Raising $2 Billion to Buy Celsius 

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The world’s leading investment bank, Goldman Sachs is reportedly looking to raise $2 billion from investors to buy distressed assets from Celsius which is currently facing a liquidity crisis due to extreme market conditions.

In a report by Coindesk on Friday, the proposed deal would allow investors to buy up Celsius’ assets at potentially big discounts in the event of a bankruptcy filing.

Coindesk reported this making reference to two people that are familiar with the matter.

The struggling exchange reportedly had over $11 billion in assets as of May 2022, meaning if Goldman Sachs could purchase all of Celsius’ assets, it would be paying just 20 cents on the dollar. Whether the group is looking to take Celsius on as a going concern or strip and sell its assets is unknown at this time.

Earlier this month, Celsius also received an unsolicited offer from its rival exchange, Nexo, an offer that was rejected; reports also say that Citigroup had been brought in to assess the deal. Nexo has over 4 million users compared to Celisus’ 1.7 million who claimed “Nexo is in а solid liquidity and equity position to readily acquire any remaining qualifying assets of Celsius, mainly their collateralized loan portfolio.”

Celsius in recent times has also hired “restructuring attorneys from law firm Akin Gump Strauss Hauer & Feld LLP to advise on possible solutions for its mounting financial problems.” A move that is signaling the end of Celsius.

In the current market conditions, quite a lot of crypto firms are folding up while some exchange future is becoming uncertain, it is the ultimate priority of MycryptoParadise for its family to stay healthy.

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