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2024-06-25 11:44:42 +0300

Top Reason Why Goldman Sachs Is All Set To Acquire Celsius Network!

Logo Coinpedia - Fintech & Cryptocurreny News Media
Coinpedia - Fintech & Cryptocurreny News Media
By Qadir Ak

The globe’s greatest financial firm, Goldman Sachs, has begun to consider acquiring assets from Celsius Network, a struggling crypto lending startup. As per publicly accessible data, Goldman Sachs is preparing a $2 billion monetary cash reserve for the investment.

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If the sale drops ahead, it will most certainly be at a massively diminished cost, particularly if the business declares bankruptcy. This appears to be a possibility given that it recently acquired a new company to assist it in the bankruptcy case.

As per sources, Citigroup and Akin Gump urged Celsius to file for insolvency. Goldman Sachs has begun an industry-wide demand accumulation by finding potential buyers and obtaining significant agreements through them.

As shown in the reports, Goldman Sachs is already recruiting participants in Web3 crypto funds that focus on illiquid assets as well as conventional payment organizations.

A significant proportion of Celsius holdings will most probably be cryptocurrency, controlled by active traders. Prior to the crisis, Celsius has been one of the largest crypto creditors in the market, with roughly $12 market capitalization under control and 1.7 million customers.

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