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Celsius Network raises $ 400 million despite mounting pressure from government agencies



Crypto lender Celsius Network has announced that it has raised $ 400 million in equity. This development comes amid regulatory pressures from various parties. We took a closer look at the story.

Details via Celsius Network Equity Fund

Celsius Network is one of the world's leading platforms for crypto business and lending. The company has just announced that it has raised $ 400 million. This investment fund is managed by the growth equity company WestCap and the global investment group CDPQ (Caisse de dépôt et placement du Québec).


As a result, Celsius is now valued at more than $ 3 billion. That's a huge improvement over last year when the company's valuation was $ 120 million. Celsius intends to use the proceeds from this investment for the following projects.

  • Expansion of the company's products and range.
  • Introduction of products with an institutional character to further build the bridge between cryptocurrencies and traditional finance
  • Some of the money will be used to grow the team from 486 employees to around 1,000.
  • Global expansion through strategic acquisitions is designed to help the company grow exponentially.

Celsius sees its mission in promoting blockchain technologies

According to Alex Mashinsky, CEO of Celsius Network, this partnership will " advance the company's mission to leverage blockchain technology to connect and decentralize traditional finance."

As of October 8th, Celsius had total assets over $ 25 billion. The company also has over 1 million registered customers and has paid users over $ 850 million in interest over three years through its earn product.

Last year the company raised $ 30 million in a Tether-led capital round. It was recently reported that Tether from Celsius Network Ltd. Borrowed $ 1 billion that the company must repay at an interest rate of 5% to 6%.

But why is Celsius in trouble?

In recent months, the crypto lender has been targeted by US state regulators in response to its loan products. Alabama, New Jersey, and Texas have accused the company of violating state safety laws. Additionally, Kentucky has issued an injunction against the company.

With this new investment, the crypto lender hopes to convince regulators of the credibility of its deals. The company also insists that its business is fully compliant with US law.

As the pressure on Celsius Network mounts, the platform is focused on proving the legitimacy of its business and opening the doors for cryptocurrencies in the mainstream financial market.

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