Advertise
- Qadir AK
Qadir AK
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jun 25, 2022 08:44 UTC
-
Top Reason Why Goldman Sachs Is All Set To Acquire Celsius Network!
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.
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.
As of the time of posting, Goldman Sachs has not issued a declaration regarding this situation.
Insurance Company Show Keen Interest in Cryptocurrencies
According to a Goldman Sachs poll, insurance companies are responding to the concept of cryptocurrency. As per the poll, 6% of the 328 global chief administrators and chief financial officers have participated or are considering investing in cryptocurrency.
As per Mike Siegel, Goldman Sachs’ national head of insurance wealth management and liquidity, the study reflects present market sentiment.
Mike Siegel quotes that they received replies from participants who had more than $13 trillion worth of assets. In reality, this is over 50% of the entire company’s investments. As a result, they believe the study is fairly indicative of the market sentiment.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Yes 
No 
