Crypto lending firm Celsius Network raises $400M

Cryptocurrency lending platform Celsius Community has raised $400 million in a brand new fairness investment spherical amid United States regulators more and more cracking down on crypto lending.

Pronouncing the scoop on Tuesday, Celsius famous that the newest investment used to be led via Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), and WestCap, an fairness company established via former Airbnb govt Laurence Tosi.

Celsius CEO Alex Mashinsky expressed hope that the brand new fundraising would assist the trade reassure regulators concerning the balance of his crypto lending industry and enlarge it throughout mainstream monetary markets. “It’s no longer $400 million. It’s the credibility that includes the individuals who wrote the ones cheques,” he stated in an interview with the Monetary Instances on Tuesday.

This tale is growing and shall be up to date.

Leave a Reply

Your email address will not be published. Required fields are marked *