Bitmex’s Hayes: Don’t Believe Goldman Sachs Is Putting Its Own Money At Risk To Buy Celsius Network Assets

Summary:

  • Arthur Hayes warned the crypto community against believing that Goldman Sachs would risk its own money to buy assets from the Celsius network.
  • Mr Hayes explained that Goldman Sachs would simply assemble a group of investors to help them structure the purchase of the troubled assets for a “phat” fee.
  • He is also optimistic that if the purchase of Celsius Network’s assets is successful, withdrawals could once again be activated and restore confidence in the crypto markets.

Bitmex founder and former CEO Arthur Hayes has warned the crypto community against believing that giant Wall Street bank Goldman Sachs would risk its own money to buy assets from Celsius Network’s crypto lending platform .

His comments follow news that Goldman Sachs look for 2 billion dollars in investor commitments to purchase the aforementioned troubled assets from the Celsius Network.

Goldman Sachs will simply assemble a group of investors to help them structure the purchase for a “Phat” fee.

Mr. Hayes shared his thoughts via the Twitter thread below, which also pointed out that Goldman Sachs should “explicitly say” that it is putting its money at risk for the crypto community to believe them.

Celsius Network Assets Could Reactivate Withdrawals and Restore Confidence, and Reignite a Crypto Bull Run.

Additionally, Arthur Hayes explained that Goldman Sachs will likely do what advisory banks do in “[assembling] a group of investors and help them structure the purchase of distressed assets for huge fees.

As for the impact of the potential for Goldman Sachs and other investors to buy Celsius Network’s assets, Arthur Hayes predicted that this could lead to the activation of withdrawals on the platform. Such an event would restore confidence in the crypto markets and restart the bull run. He explained:

If this vehicle actually buys assets from Celsius Network, and withdrawals are enabled again, so the community can rejoice that creditors got some of their money back. This would restore confidence and provide more dry powder for a #Cryptocurrency bullfight.

All “bailouts” are public relations stunts until the money is deployed – Arthur Hayes.

In his closing remarks, Arthur Hayes reminded the crypto and investment communities that bailouts should be viewed as public relations stunts until real money is deployed. He said :

All “bailouts” should be viewed as public relations stunts, until real money is deployed, and real depositors can withdraw some or all of their funds from insolvent CENTRALIZED crypto lenders.