- Goldman Sachs was approached by at least one institutional investor asking Goldman to advise and broker a potential deal for Celsius’ assets, according to sources familiar with the matter.
- The potential deal comes as Goldman increasingly explores digital assets, including starting its own in-house trading desk
- The bank would not carry any exposure to the struggling lender under the proposed arrangement
Investment banking powerhouse Goldman Sachs is considering helping an investor raise approximately $2 billion to snap up distressed assets stuck in limbo from troubled digital asset lender Celsius, according to two sources familiar with the matter.
The deal — which one source said likely would occur via the investment bank’s asset management unit — could see investors purchase assets from Celsius at a discount, even if the lender does not declare bankruptcy. The source said the $2 billion is an estimate at this stage.
It is understood Goldman moved quickly to explore the potential deal, but its initial response was not favorable. The would-be buyer of Celsius’ assets is understood to be canvassing other organizations with the capability to broker a deal.
Celsius, which ran $12 billion in May, has been on the brink of insolvency since the firm abruptly said it would halt all withdrawals from its platform earlier this month. In the event of a bankruptcy proceeding, customers would be considered unsecured creditors — and thus far down the list in terms of recouping their assets.