Crypto: This $ 2 billion Goldman Sachs “bomb” is approaching as Bitcoin, Ethereum, BNB, XRP, Solana, Cardano and Dogecoin prices fluctuate.

Bitcoin, ethereum and other major cryptocurrencies returned after a huge market crash this month (which some say may reveal future technology giants).

Bitcoin’s price has risen 20% since crashing below $ 18,000 per bitcoin last week – despite a grim warning from China – with ethereum and other cryptocurrencies among the top ten commodities

Wall Street giant Goldman Sachs is reportedly seeking to raise $ 2 billion to buy the assets of the struggling cryptocurrency lender Celsius, which was hit hard by the recent bitcoin and cryptocurrency crisis.

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Goldman Sachs has begun to gently dip its toes into the world of cryptocurrency in recent years, in the midst of … [+] huge boom in bitcoin, ethereum, BNB, XRP, solana, cardano and dogecoin prices.

Goldman Sachs is requesting cryptocurrencies and traditional financial institutions as part of the deal, which could see it buy Celsius’ crypto assets at a discount, it was first reported by Coindesk, with Blockworks adding that the deal could happen even if the lender does not declare bankruptcy , with reference to unnamed sources.

“Goldman did not want to buy at the top of the market,” a source told Blockworks. “It’s more their style.”

Celsius, which managed $ 12 billion in assets in May this year, was on the verge of bankruptcy after suspending withdrawals from platform users earlier this month, citing “extreme market conditions” and exacerbating a cryptocurrency crash that took bitcoin under $ 20,000.

Celsius has hired restructuring advisers, Alvarez & Marsal, as previously reported by The Wall Street Journal, adding to previous reports that CitigroupC
was given the task of advising on possible solutions.

Goldman Sachs ‘bid for Celsius’ crypto assets is expected to restore some degree of market confidence after traders rattled off the pace of bitcoin, ethereum and cryptocurrency sales.

“Still, now may not be the best time to buy, as it may be a long time before the cryptocurrency market digests the recent turmoil and enters a new phase of sustained market demand. From broad segments of investors, not just stressed. Asset hunters,” he said. Alex Kuptsikevich, senior market analyst at FxPro, via email.

The Bitcoin price moved from its recent lows and helped ethereum, BNB, XRP, solana, cardano and … [+] dogecoin rally.

The collapse of Celsius, which closely follows stablecoin terraUSD and its supporting currency luna, has sparked renewed calls for better regulation of the cryptocurrency market and cryptocurrencies.

“I suspect, following the recent events with Celsius, that the US will soon provide more clarity on the rules to custodians and lenders, to bring more stability to the cryptocurrency,” wrote Marcus Sotiriou, analyst at UK-based digital asset broker GlobalBlock, in an emailed note.

Thomas Estimbre
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