The Caisse de dépôt et placement du Québec and WestCap, the investors who co-led Celsius’s Series B last fall, aren’t expected to put more capital into the crypto-lending startup, sources told The Wall Street Journal. Celsius has been having trouble meeting its creditor obligations amid a steep drop in crypto prices. (The Wall Street Journal)
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The Caisse de dépôt et placement du Québec and WestCap, the investors who co-led Celsius’s Series B last fall, aren’t expected to put more capital into the crypto-lending startup, sources told The Wall Street Journal. Celsius has been having trouble meeting its creditor obligations amid a steep drop in crypto prices. (The Wall Street Journal)
Talking point: A lack of investor support would limit the options available to Celsius after it suspended customer withdrawals and transfers on Sunday. The U.S. company has reportedly hired a law firm to advise it on a path forward, including a possible sale or financial restructuring. CDPQ spokesperson Kate Monfette told The Logic earlier this week that Celsius is taking steps to meet its obligations and that the pension fund is closely monitoring the situation.
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