Goldman Sachs is attempting to raise $2 billion from investors to buy up distressed assets from cryptocurrency lender Celsius Network.
CoinDesk first reported the news last night, citing two people familiar with the matter, but Goldman has not confirmed. The story states that Goldman is acting on behalf of investors rather than for its own account. It’s soliciting crypto funds, distressed asset funds and traditional financial institutions.
The distressed assets are likely to be loans granted that are in default. The defaulting companies could have other illiquid assets such as venture investments in web3 or crypto startups.
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