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According to CDPQ, Celsius' investment demonstrates 'conviction' in blockchain

 

A grant from the Caisse de Dépôt et Placement du Québec has enabled Celsius Network to expand its operations (CDPQ). Canadian pension fund manager Laurence Tosi has joined WestCap, the firm founded by former Airbnb and Blackstone executives Laurence Tosi and Peter Thiel. Celsius is a cryptocurrency loan company that has come under fire from state authorities in the United States. Celsius' $400 million equity round, which valued the firm at $3 billion, has attracted the participation of public pension management CDPQ. The fund is primarily interested in making "diamond in the rough" investments in early-stage businesses that are using blockchain technology. Synnett, on the other hand, warned that his excitement for cryptocurrency is not without its limitations. Celsius got caught up in a US regulatory crackdown on cryptocurrency businesses that give consumers interest on deposits of digital assets, which began last month. In a statement, CEO Bruce Synnett said that the business is dedicated to cooperating with authorities and wants to be seen as the "good people."

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