Wouldn't be the first time Goldman made money off assets they knew were worthless dog shit that will eventually go to zero.
Goldman Raising $2B to Buy Distressed Celsius Assets
41–50 of 147 posts
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#42If Goldman are raising money from investors it's probably because they think they can charge those investors for advising on and structuring a deal. It doesn't mean Goldman are buying Celsius. It's only a vote of confidence in Celsius to the extent that it means Goldman think they can find people who want to buy it and who will pay an investment bank to do so.
They are raising money for liquidation, they will pay back users a fraction of what they originally deposited, and then play with some rows on an excel spreadsheet and walk with millions. Celsius can't go back live because the bank run would destroy the entire thing just like with Terra.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#43Interesting move in light of current "crypto is dead" sentiment in many corners - hn included
I’m not sure this is good news…
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#44If Goldman are raising money from investors it's probably because they think they can charge those investors for advising on and structuring a deal. It doesn't mean Goldman are buying Celsius. It's only a vote of confidence in Celsius to the extent that it means Goldman think they can find people who want to buy it and who will pay an investment bank to do so.
$2B for what was suppose to be $12B of AUM. Doesn’t sound like a vote of confidence. Question is what priority are funds distributed. Depositors are unsecured creditors. Are there secured creditors that would be before them?
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#45Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#46Anybody trading the Celsius token? I had been expecting steeper dips so I missed that 600% flip. Not exactly my perfect storm for buying a dip, I usually wait for an information asymmetry in my favor, but shoulda just taken a slightly smaller position.
There will always be shouldas, just as there will always be more opportunities.
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#47Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#48Honestly I am surprised we are not seeing violent acts against people running these companies (Celsius, terra, etc). I would be beyond furious if I couldn't withdraw my assets from this scam.
Apparently things are pretty tense in South Korea where Terra originated. An increase in suicide-related searches was recorded in Seoul. Authorities have put dozens of Terraform Labs employees on a no-fly list to prevent them from leaving the country.
Sounds like there could be ramifications beyond the usual crypto "aww shucks, the money's gone, what can you do lol".
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#49What sort of assets? Why wouldn't investors just buy the same assets from an exchange?
Re: Goldman Raising $2B to Buy Distressed Celsius Assets
#50It's taken me a while to understand this but a very common cycle for tech is: 1)Startup founder gets and idea and develops it. 2)The startup develops the tech and finds a market for it 3)The Startup becomes successful 4)The market falls apart and the founder can't guide the startup thru the difficulties 5)Start up is in distress or fails 6)An MBA type comes along buys everything at a deep discount 7)The new manager r…
I don’t know of any company that has happened too. I’ve see the reverse happen all the time in M&A deals when a startup is sold to a big corporation.