.GoldmanSachs is raising $2 billion in funds to buy up CelsiusNetwork's assets should the crypto lender go bankrupt.
The proposed deal would allow investors to buy up Celsius’ assets at potentially big discounts in the event of a bankruptcy filing, the people said.
Goldman Sachs appears to be gauging interest and soliciting commitments from Web3 crypto funds, funds specializing in distressed assets and traditional financial institutions with ample cash on hand, according to a person familiar with the situation. The assets, most likely cryptocurrencies having to be sold on the cheap, would then likely be managed by participants in the fundraising push.Friday afternoon.
In addition to hiring Alvarez & Marsal, Celsius has tapped restructuring attorneys from law firm Akin Gump Strauss Hauer & Feld, the Wall Street Journal
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