Goldman Sachs looks to buy Celsius’ assets for $2B as it is advised to file for bankruptcy
Goldman Sachs Allegedly Investors shop to form a web3 fund to buy Celsius assets.
Multinational investment banks have raised $ 2 billion from a wide range of funds to take advantage of potential discounts on crypto assets in Celsius.
If Celsius is forced to file for bankruptcy, he may need to sell his assets quickly to repay the creditors.I have a replacement Allegedly Citigroup and Akin Group have already advised you to file for bankruptcy.
The news was initially reported by Coin Desk, which cites people familiar with the matter as sources.
Struggling exchange Reportedly As of May 2022, we had over $ 11 billion in assets. So if Goldman Sachs could buy all of Celsius’ assets, he would pay just 20 cents for $ 1. It is unknown at this time whether the group is trying to hire Celsius as a going concern or to strip and sell its assets.
Celsius also received a one-sided offer from rival exchange Nexo on June 12, but it was not accepted. However, Coin Desk reported that Citigroup was brought in to evaluate the transaction. Nexo has more than 4 million users, while Celisus has 1.7 million.
“Nexo is in a solid liquidity and capital position with easy access to Celsius’ remaining eligible assets, primarily a secured loan portfolio.”
The proposal to buy Celsius’s “secured loan portfolio” may have a similar focus to what Goldman Sachs may offer. Investors who do not have access to the funds currently stored in Celsius will not be enthusiastic about the Goldman Sachs approach.
When you file for bankruptcy, a schedule is created to determine the order in which creditors will be repaid. Investors want them to be paid first, but there is no guarantee.
Celsius Hired “Restructuring attorneys at law firm Akin Gump Strauss Hauer & Feld LLP advise on possible solutions to growing financial problems.” This move could mark the end of Celsius. June 20..
