The Wall Street behemoth Goldman Sachs is reportedly ready to pounce and purchase the crypto loan business Celsius Network, which appears to be in trouble.
Sources claim that Goldman Sachs is preparing to raise $2 billion from investors to buy assets from Celsius despite dire financial difficulties.
According to the sources, in the event that the troubled company declares bankruptcy, the transaction would allow investors to stock up on Celsius’ assets at substantial discounts. Before restricting withdrawals earlier this month, Celsius had collected over $11 billion in assets under management and had also loaned customers a total of $8 billion.
Celsius has significant liquidity problems as the cryptocurrency market fell. According to sources, Goldman Sachs is looking for commitment from traditional financial firms with a lot of cash as well as Web3 cryptocurrency funds. The world’s largest bank is also in discussions with funds that focus on troubled assets.
