One of the world’s largest financial institutions Goldman Sachsstarted to evaluate the possibility of acquiring the assets of the crypto lending firm Celsius Network, which is having a tough time.
According to the information in the press, Godman is trying to adjust the budget of $ 2 billion to buy Sachs.
If an inter-company deal goes bad Celsius NetworkA scenario will occur where , will file for bankruptcy and be sold at a very low price as a result. The company is also known to be negotiating with a consulting firm for this type of bankruptcy, so this scenario is quite likely.
There were also reports that Citigroup and Akin Gump had recommended Celsius to file for bankruptcy.
Goldman Sachs launched an industry-wide interest collection process by identifying interested investors and collecting key commitments from them.
Sources also state that Goldman Sachs is targeting investors in Web3 crypto funds specializing in distressed assets and traditional financial institutions.
The majority of Celsius Network assets will likely consist of cryptocurrencies that will be managed by participating investors. Before its troubles, Celsius was one of the leading crypto lenders in this space, with nearly $12 billion in assets under management and 1.7 million users.
While this news was being prepared, no announcements or developments were shared from the Goldman Sachs front.
Goldman Sachs Survey Draws Attention
A Goldman Sachs survey revealed that insurers are warming to the idea of cryptocurrencies. According to the survey, 328 chief investment officers and 6% of chief financial officers have invested or considered investing in crypto.
Mike Siegel, head of global insurance asset management and liquidity at Goldman Sachs, suggested that the survey illustrates the current thinking of those in the industry.
“We had participants representing over $13 trillion in assets, about half of the global industry’s assets. So we think the survey represents very well what the industry thinks.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.