Cryptocurrency

Celsius Hires Bankruptcy Advisers Following Client Asset Freeze

It has also been reported that Goldman Sachs is eyeing the assets.

Cryptocurrency

Celsius Hires Bankruptcy Advisers Following Client Asset Freeze

It has also been reported that Goldman Sachs is eyeing the assets.

According to a recent report from The Wall Street Journal, cryptocurrency lending platform Celsius has hired advisers from Alvarez & Marsal to prepare for potential bankruptcy. The news comes just two weeks after the platform froze its clients’ cryptocurrency withdrawals.

Sources familiar with the matter told CoinDesk that in the event the platform does go bankrupt, Goldman Sachs is looking to raise $2 billion USD from investors to buy Celsius assets.

Several other parties have also expressed interest in the future of Celsius and its assets. Competitor Nexo shared a letter of intent to purchase the platform and unfreeze users’ assets. In addition to competitors looking to acquire, US governmental agencies and states are also looking into the situation surrounding Celsius.

“The Celsius team is working non-stop. We’re focused on your concerns and thankful to have heard from so many. To see you come together is a clear sign our community is the strongest in the world. This is a difficult moment; your patience and support mean the world to us,” said Celsius Founder and CEO Alex Mashinsky in his most recent and only public tweet regarding the asset freeze.

Elsewhere in Web3, Meta and 90 other tech giants join ‘Metaverse Standards Forum’ in pursuit of an open Metaverse.

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