Goldman Sachs Leading Investor Group to Buy Celsius Assets: Sources

newwurldmn said:
it would be pretty funny if Bitcoin turned into the debacle that the housing market was.
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Being down 55% so far, they might think it is over.

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Everything is related to Bitcoin in the crypto hole
 
angrytrader said:
They can afford to buy high-risk assets. If anything goes wrong the American tax payers will respond, as they did in past.

https://bettermarkets.medium.com/goldman-sachs-failed-10-years-ago-today-2097a82b6f2
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exactly. Isn’t it wonderful. Many do not know that Buffet would have been bankrupt in 2008-2009 if he did not push to a rule change where mark to market was suspended, and they were allowed themselves to estimate what their assets are worth. Anyone else, apart from few on the top, would have gotten margin call. As we saw with Archegos. You need to operate in 100s of billions to get a bail out.
 
Crypto is too small, yes even today, to get fed bail out. They would let let it go up in smoke. No one likes competition :sneaky:
 
RedDuke said:
exactly. Isn’t it wonderful. Many do not know that Buffet would have been bankrupt in 2008-2009 if he did not push to a rule change where mark to market was suspended, and they were allowed themselves to estimate what their assets are worth. Anyone else, apart from few on the top, would have gotten margin call. As we saw with Archegos. You need to operate in 100s of billions to get a bail out.
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the old phrase:
If I lose a million dollars, I am lost.
If I lose a billion dollars, the banks are lost.

The derivs trade combined with the purchase of Burlington Southern hurt buffet a lot. But it shows the depth of the crisis… and the leverage as people were trying to goose returns.
 
newwurldmn said:
the old phrase:
If I lose a million dollars, I am lost.
If I lose a billion dollars, the banks are lost.

The derivs trade combined with the purchase of Burlington Southern hurt buffet a lot. But it shows the depth of the crisis… and the leverage as people were trying to goose returns.
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forget about Old saying mentioning a billion, still would be our problem. 100s of billions where new entry bar is.
 
The_Krakenite said:
The Wall Street firm is seeking $2 billion in commitments from investors to buy distressed assets at steep discounts if the crypto lender goes bankrupt.

https://www.coindesk.com/business/2...eferral&utm_source=rss&utm_campaign=headlines
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2 billion for what ?
Old rigs ? Warehouses ? Talent ?

newwurldmn said:
it would be pretty funny if Bitcoin turned into the debacle that the housing market was.
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CDOs were $2 Tril in size. MorningStar etc would have to give 10/10 or AAA+ ratings to crypto mortgage loans as well.
(Was was the real value tho)

But yup. That would be a sight. Like irl movie.
 
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