Crypto lending firm Celsius Network raises $400M

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

Saying the information on Tuesday, Celsius famous that the most recent funding was led by Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), and WestCap, an fairness agency established by former Airbnb govt Laurence Tosi.

Celsius CEO Alex Mashinsky expressed hope that the brand new fundraising would assist the trade reassure regulators concerning the stability of his crypto lending enterprise and increase it throughout mainstream monetary markets. “It’s not $400 million. It’s the credibility that comes with the individuals who wrote these cheques,” he stated in an interview with the Monetary Instances on Tuesday.

This story is creating and will likely be up to date.