{"id":51060,"date":"2021-10-12T16:28:49","date_gmt":"2021-10-12T13:28:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51060"},"modified":"2025-09-02T21:40:55","modified_gmt":"2025-09-02T18:40:55","slug":"celsius-network-raises-400-million-amid-regulatory-scrutiny","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/celsius-network-raises-400-million-amid-regulatory-scrutiny\/","title":{"rendered":"Celsius Network raises $400 million amid regulatory scrutiny"},"content":{"rendered":"<p>The Celsius Network, a centralized cryptocurrency-lending platform, announced that it had raised $400 million in funding. The round valued the company at more than $3 billion.<\/p>\n<figure class=\\\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-width=\\\"500\\\" data-dnt=\\\"true\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Celsius Network Announces an Investment Led by WestCap and CDPQ at a Valuation More Than US $3 Billion.<a href=\\\"https:\/\/t.co\/vFFjJsxRPJ\\\">https:\/\/t.co\/vFFjJsxRPJ<\/a><\/p>\n<p>\u2014 Celsius (@CelsiusNetwork) <a href=\\\"https:\/\/twitter.com\/CelsiusNetwork\/status\/1447896255187804160?ref_src=twsrc%5Etfw\\\">October 12, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n<\/div>\n<\/figure>\n<p>\\n\\n<\/p>\n<p>The round was led by WestCap and Canada&#8217;s second-largest pension fund, Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ).<\/p>\n<p>\\n\\n<\/p>\n<p>According to a press release, Celsius will deploy the funds to expand its product lineup and to \\&#8221;bridge traditional finance and cryptocurrencies.\\&#8221;<\/p>\n<p>\\n\\n<\/p>\n<p>Part of the funding will go toward expanding the team from 489 employees to nearly 1,000 and enabling global growth through strategic acquisitions.<\/p>\n<p>\\n\\n<\/p>\n<p>As of October 8, 2021, assets under management exceeded $25 billion, with more than 1 million registered on the platform, Celsius said.<\/p>\n<p>\\n\\n<\/p>\n<p>The funding round occurred amid allegations in the United States that the platform sold unregistered securities. The claims were raised by regulators in <a href=\"https:\/\/u1f987.com\/en\/news\/texas-and-new-jersey-regulators-accuse-celsius-network-of-selling-unregistered-securities\"> Texas, New Jersey<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/alabama-regulator-joins-accusations-against-celsius-network\"> Alabama<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/kentucky-regulator-accuses-celsius-network-of-securities-law-violations\"> Kentucky<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>CEO Celsius Network <a href=\\\"https:\/\/www.ft.com\/content\/b47c9499-f4a6-46f4-991b-e8f7f20d49e2\\\">expressed hope<\/a>, that the investment would persuade regulators of the platform&#8217;s stability and \\&#8221;help open doors to the main financial markets.\\&#8221;<\/p>\n<p>\\n\\n<\/p>\n<p>According to WestCap founder Laurence Tosi, Celsius aims to work constructively with regulators.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;As the use of digital assets becomes more widespread, we intend to seize the right opportunities, moving with our partners toward a regulated industry,\\&#8221; said CDPQ executive vice-president Alexander Sinnett.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>In July 2020, Celsius raised $18.8 million, and later in a crowdfunding campaign <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-raises-20-2-million-in-crowdfunding\">raised $20.2 million<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>In June 2021, the platform <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-invested-more-than-200-million-in-bitcoin-mining\">invested more than $200 million<\/a> in Bitcoin mining in the United States.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog&#8217;s news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Celsius Network, a centralized cryptocurrency-lending platform, announced that it had raised $400 million in funding. The round valued the company at more than $3 billion.<\/p>\n","protected":false},"author":1,"featured_media":51061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1133],"class_list":["post-51060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51060"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51060\/revisions"}],"predecessor-version":[{"id":51062,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51060\/revisions\/51062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51061"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}