News View Non-AMP

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

Published 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.

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.

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.

Recent Posts

Stablecoins Associated with First Digital Trust (FDT) Temporarily Depegs as Justin Sun Warns of Company’s Insolvency

In a surprising turn of events, Justin Sun, a prominent figure within the Tron (TRX)…

April 2, 2025

Trump Tariffs Live: Bitcoin Price Rallies To $87000 On ‘Liberation Day’

Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump's "Liberation Day" announcement,…

April 2, 2025

Grayscale Announces Launch of Two New Bitcoin ETFs: Here’s What They Are

Grayscale, a leading crypto asset manager, has introduced two new Bitcoin ETFs, offering a fresh…

April 2, 2025

Remember This Name! Remittix Presale Becomes the Top Predicted of 2025 as Project Raises Almost $15M in Record Time

In a year marked by conservatism and a sentiment shift in crypto, one name is…

April 2, 2025

Has Elon Musk Forgotten About Dogecoin (DOGE)?

Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has…

April 2, 2025

Shiba Inu Drops 9%, but RUVI AI’s (RUVI) Token Might Be the Meme Coin Killer as Investors Rush to Claim their Bonus

The cryptocurrency market is no stranger to ups and downs, and this week, Shiba Inu…

April 2, 2025