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Goldman Sachs is Looking to Raise $2 billion to Buy Celsius Assets

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Today’s Cryptocurrency Headline

Goldman Sachs is seeking to raise $2 billion from investors to buy distressed assets from crypto lending platform Celsius, according to two people familiar with the matter. If Celsius files for bankruptcy, the proposed deal would allow investors to buy all the company’s assets at a steep discount, the sources said. Goldman Sachs currently appears to be seeking funding commitments from the Web3 crypto fund, funds specializing in distressed assets, and traditional financial institutions with ample cash on hand. Celsius has hired restructuring advisers from consulting firm Alvarez & Marsal to advise on a possible bankruptcy filing, according to previous news.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Glassnode data shows that the number of addresses holding more than 1 bitcoin reached 869,949, a record high. Bitcoin is down -2.06% over the past 24 hours and fell to an intraday low of $20,943.67. The largest cryptocurrency is facing strong resistance near $22,000 as seen from the long wick on the June 26 candlestick, indicating the bears are selling on the relief rally. If Bitcoin breaks above the 20-day exponential moving average ($22,900), this could imply a possible trend change. However, if the price drops below $20,000, the bears will try to push the price to $17,000.

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