Goldman Sachs said to be raising investor funds to buy Celsius assets: CoinDesk

Goldman Sachs is seeking to raise $2 billion from investors to potentially purchase assets from troubled crypto lender Celsius, two people familiar with the matter told CoinDesk.

The investors would be able to acquire Celsius assets at discounts in the event of a bankruptcy filing, the people were cited as saying.

Goldman seems to be soliciting commitments from web3 crypto funds, funds specializing in distressed assets and traditional financial institutions, according to a person cited in the report.

Goldman Sachs did not respond to a request for comment, CoinDesk said.

Celsius said on June 12 that it would pause withdrawals on its platform, citing market conditions as the price of Ether and other cryptocurrencies tumbled. 

The Wall Street Journal reported on Friday that Celsius had hired management consulting firm Alvarez & Marsal to advise on the ongoing process.

About Author

Mike Millard has worked as an editor for Bloomberg and Reuters, various newspapers and websites. He lived in Asia for more than two decades and now calls the Greek island of Corfu home. He is the author of three books.