Goldman Sachs looks to buy Celsius’ assets for $2B as it is advised to file for bankruptcy

2022-6-25 05:40

Goldman Sachs is allegedly shopping around for investors to form a web3 fund to purchase Celsius assets.

The multinational investment bank is raising $2 billion from a wide range of funds to take advantage of a potential discount on Celsius crypto assets.

Should Celsius be forced to file for bankruptcy, it may be required to sell off its assets quickly to pay back any creditors. The exchange has allegedly already been advised to file for bankruptcy by Citigroup and Akin Group.

The news was initially reported by Coin Desk, which cites people familiar with the matter as the source of information.

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.

Celsius also received an unsolicited offer from rival exchange Nexo on June 12, which was not accepted. However, Coin Desk reported 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.”

The proposal to purchase Celsius’ “collateralized loan portfolio” is likely to have a similar focus to any potential Goldman Sachs offer. Investors currently without access to their funds held in custody with Celsius may not be enthused by Goldman Sach’s approach.

Upon filing for bankruptcy, a schedule would be created determining the order in which creditors are repaid. Investors will be hoping they will be paid out first, but there are no guarantees.

Celsius hired “restructuring attorneys from law firm Akin Gump Strauss Hauer & Feld LLP to advise on possible solutions for its mounting financial problems.” The move may signal the end of Celsius, which has been silent on the issue since June 20.

The post Goldman Sachs looks to buy Celsius’ assets for $2B as it is advised to file for bankruptcy appeared first on CryptoSlate.

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assets celsius sachs goldman advised bankruptcy buy

Источник: cryptoslate.com

assets celsius → Результатов: 35


As Celsius Network pauses asset transfers, the importance of self-custody reinforces

Celsius Network, one of the largest crypto lenders in the market, announced recently that it has paused withdrawals, swaps, and transfers of assets. Citing “extreme market conditions”, the company issued a memo to its community stating that its “ultimate objective is stabilizing liquidity and restoring withdrawals, swap, and transfers between accounts as quickly as possible.” […]

2022-6-15 09:59


Фото:

Coinbase stock falls 20% as Celsius news hits cryptocurrencies

Coinbase Global Inc (NASDAQ: COIN) opened more than 20% down this morning after a crypto lending company made an announcement that pushed Bitcoin to its lowest since the start of 2021. Celsius Network news: risk of insolvency Celsius Network disabled customers from withdrawing or transferring crypto assets over the weekend – a drastic move that, […] The post Coinbase stock falls 20% as Celsius news hits cryptocurrencies appeared first on Invezz.

2022-6-14 18:09


Фото:

Bitwala introduces Bitcoin Account with 4.3% Interest

Digital crypto bank Bitwala and crypto lender Celsius Network have partnered in a deal that will see bank account holders earn interest for hodling their BTC Bitwala, which created the world’s first crypto bank account in 2018, has announced a new product that allows account holders to receive interest payouts on their Bitcoin (BTC) assets […] The post Bitwala introduces Bitcoin Account with 4.3% Interest appeared first on Coinjournal.

2020-5-14 12:14


Saga, Crypto Lender Celsius Network Partner, Earn Up To 9.9% Interest On SGA Tokens

The Celsius Network, one of the biggest crypto lending platforms, has listed the SGA stabilized asset from Saga, giving its SGA token holders the possibility to earn interest. This means users can preserve their assets’ value by using the SGA stabilization mechanism and in the meantime earn an attractive interest through Celsius. While Saga says […]

2020-4-7 21:00


Celsius Network Launches CelPay to Allow Crypto Holders Send and Receive Digital Assets Instantly without Fees

Celsius Network, a blockchain-based lending platform has launched CelPay to allow cryptocurrency investors to seamlessly send and receive cryptoassets in real-time, without fees or keys. With the CelPay app, crypto holders can overcome all the existing challenges that come with sending digital assets, including expensive fees, delays in transaction confirmation and others.

2018-12-17 19:32


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