{"id":63049,"date":"2022-06-17T12:08:03","date_gmt":"2022-06-17T09:08:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63049"},"modified":"2025-09-05T21:42:43","modified_gmt":"2025-09-05T18:42:43","slug":"leading-investors-reluctant-to-bail-out-celsius-journalists-reveal","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/leading-investors-reluctant-to-bail-out-celsius-journalists-reveal\/","title":{"rendered":"Leading investors reluctant to bail out Celsius, journalists reveal."},"content":{"rendered":"<p>Investment firm WestCap and Canada&#8217;s second-largest pension fund <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-raises-an-additional-350-million-valuing-the-company-at-3-25-billion\">led<\/a> a $750 million Series B round for Celsius Network. <a href=\"https:\/\/www.wsj.com\/articles\/celsius-networks-investors-unlikely-to-provide-more-funds-to-bail-out-crypto-lender-11655395113\">The Wall Street Journal<\/a> reports, citing sources.<\/p>\n<p>According to them, existing investors are amenable to restructuring or backing the struggling platform with the involvement of other interested parties.<\/p>\n<p>In October 2021, WestCap and Canada&#8217;s second-largest pension fund <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-raises-an-additional-350-million-valuing-the-company-at-3-25-billion\">led<\/a> a $750 million Series B round for Celsius.<\/p>\n<p>They were not deterred by allegations raised shortly before that the platform had sold unregistered securities. Regulators in the states of <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\/texas-and-new-jersey-regulators-accuse-celsius-network-of-selling-unregistered-securities\">Kentucky<\/a> have raised concerns.<\/p>\n<p>Earlier, the publication reported on June 15 that Celsius had hired lawyers from Akin Gump Strauss Hauer &#038; Feld <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-token-price-rises-nearly-59\">for possible financial restructuring<\/a>. Journalists stressed that the platform&#8217;s initial aim was to attract capital from investors.<\/p>\n<p>According to The Block, to address this task the company <a href=\"https:\/\/u1f987.com\/en\/news\/media-celsius-hires-citigroup-to-explore-financing-options\">turned to the financial conglomerate Citigroup<\/a>.<\/p>\n<p>On June 17, regulators in five states began an investigation into the platform&#8217;s account freezes, <a href=\"https:\/\/forklog.news\/v-ssha-nachali-rassledovanie-kasatelno-zamorozki-akkauntov-celsius\/\">\u043e \u043d\u0430\u0447\u0430\u043b\u0435 \u0440\u0430\u0441\u0441\u043b\u0435\u0434\u043e\u0432\u0430\u043d\u0438\u044f \u0440\u0435\u0433\u0443\u043b\u044f\u0442\u043e\u0440\u0430\u043c\u0438<\/a> that regulators in five states had frozen the platform&#8217;s accounts.<\/p>\n<p>Earlier an expert <a href=\"https:\/\/forklog.news\/yurist-nazval-bankrotstvo-celsius-prakticheski-neizbezhnym\/\">\u043d\u0430\u0437\u0432\u0430\u043b<\/a> Celsius bankruptcy practically inevitable.<\/p>\n<p> Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment firm WestCap and the Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec will refrain from making new investments in the Celsius Network crypto-lending platform. The Wall Street Journal reports, citing sources.<\/p>\n","protected":false},"author":1,"featured_media":63050,"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],"class_list":["post-63049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63049","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=63049"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63049\/revisions"}],"predecessor-version":[{"id":63051,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63049\/revisions\/63051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63050"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}