People said the proposed deal would allow investors to buy Celsius' assets at potentially significant discounts in the event of a bankruptcy filing.
Goldman Sachs appears to be measuring interest and soliciting commitments from Web3 crypto funds; funds that specialize in troubled assets and traditional financial institutions with ample cash on hand; According to a person familiar with the situation. assets, most likely cryptocurrencies to be sold cheaply; It is likely to be managed by the fundraising campaign participants.
The Wall Street Journal reported Friday afternoon that Celsius has tapped restructuring consultancy Alvarez & Marsal.
Celsius, which has lent more than $8 billion to customers and $12 billion in assets under management as of May this year, announced that Suddenly on June 12 it will stop withdrawing from its platform, citing “harsh market conditions.” The disclosure exacerbated these conditions, as the bitcoin price briefly collapsed below $20,000.
The Wall Street Journal reported earlier this month; That in addition to hiring Alvarez and Marsal, Celsius hired restructuring attorneys from the law firm Akin Gump Strauss Hauer & Field. Global investment bank Citigroup was also recruited by Celsius to advise on possible solutions; Including an offer evaluation from rival crypto lender Nexo.
Celsius raised $750 million from investors last year; Including Canada's second largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), with business valued at $3.25 billion.