Celsius Network collects $ 400 million from investors
Celsius Network collects $ 400 million from investors
cryptocurrency companies currently get more funds than ever in history, with billions of dollars being invested in the sector
The cryptocurrency credit company Celsius Network has raised $ 400 million in a recent financing round, although the company has continuing challenges with the state regulatory authorities in the United States. The company will use the funds to expand its crypto loan offer.
Celsius Network announced yesterday that the recent capital financing round from the Caisse de Dépôt et Placement du Québec (CDPQ), the second largest pension fund in Canada, and Laurence Tose Aktiengesellschaft Westcap was led.
According to Celsius Network, the funds are used to expand its offer and products in order to combine the traditional financial markets with those of cryptocurrencies. Celsius Network wants to launch institutional products and offers to win more financial institutions.
Celsius Network is one of the leading cryptocurrency credit platforms in the world. On October 8, the company's total assets crossed the 25 billion dollar threshold and now has more than a million registered customers on its platform. Celsius Network added that it had paid more than $ 850 million in interest to its users in the past three years.
The crypto loan company was checked by the supervisory authority in some states of the United States. Last month, the state security supervisory authorities in Texas, Alabama, New Jersey and Kentucky warned Celsius Network to register the authorities.
Some of the supervisory authorities have requested an injunction, similar to that of the competitor Blockfi by Celsius Network.
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Source: Coinlist.me
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