Goldman Sachs is reportedly ready to pounce onto the assets of beleaguered crypto lender Celsius Network, CoinDesk reported on Friday citing sources familiar with the development.
Per the report, the banking giant is eyeing $2 billion in funding from investors for a potential purchase of the Celsius assets should it file for bankruptcy.
Celsius wobbling towards bankruptcy
Celsius continues to wobble towards its end days after announcing a freeze on customer withdrawals, amid a market crash that has also claimed several other crypto firms.
On 15 June, it was announced that Celsius had appointed restructuring attorneys from the advisory firm Akin Gump Strauss Hauer & Feld LLP to help it navigate the financial quagmire it had waded into.
On Friday, 24 June, it was also revealed that the crypto bank had added the services of Alvarez & Marsal. According to the Wall Street Journal, the company’s move comes ahead of a potential bankruptcy filing.
Earlier last week, crypto lender Nexo extended an offer to buy Celsius’ assets.
On Tuesday, the firm partnered banking giant Citigroup as financial advisor on a possible consolidation of providers in the crypto lending space.