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With a significant downturn in the crypto market and extreme market conditions, Celsius Network suspended withdrawals from its platforms last week. In addition, it paused all swaps and transfers between the platform’s accounts.  The company has been in a terrible phase with major liquidations on the platform. According to reports, Goldman Sachs Group Inc (NYSE: GS) has come forward to rescue the firm and has offered to raise $2 billion from investors to buy up distressed assets from Celsius.  Goldman Sachs is currently weighing interest from Web 3 crypto funds. With this deal, investors would be allowed to buy up Celsius’ assets at significant discounts in the event of a bankruptcy filing.  Also Read: Nexo Offers To Buy Celsius Assets Amid Withdrawal Halt Celsius had more than $8 billion lent to clients and $12 billion in assets under management. The Wall Street Journal reported that Celsius has roped in advisory firm Alvarez & Marsal for this deal. It has also tapped in restructuring attorneys from the law firm Akin Gump Strauss Hauer & Feld.  According to a report, Celsius raised close to $750 million from the investors last year, including Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Celsius its headed towards bankruptcy—and looking for help, sources tell the Wall Street Journal.

Crypto lender Celsius continues to weigh a possible bankruptcy amid serious financial woes, according to the Wall Street Journal. The post Crypto lender Celsius hires more advisors ahead of possible bankruptcy: WSJ appeared first on The Block.

San Francisco, United States, 16th June, 2022, Chainwire Ankr, one of the world’s fastest-growing Web3 ... Read More... from Ankr Gives BNB Chain a Major Performance Upgrade With Its Open-Source Contributions The post Ankr Gives BNB Chain a Major Performance Upgrade With Its Open-Source Contributions appeared first on Crypto News Land.

San Francisco, United States, 15th June, 2022, Chainwire Ankr, one of the world’s fastest-growing Web3 infrastructure providers, is thrilled to announce that it has become an RPC (Remote […]