Bloomberg Law
July 20, 2022, 8:35 PM

Celsius Bankruptcy Stings Caisse After $150 Million Investment

Mathieu Dion

Quebec’s pension manager broke its silence about its investment in Celsius Network LLC, saying it will “take time” to resolve claims around the bankrupt cryptocurrency lender but admitting the investment didn’t pan out.

Caisse de Depot et Placement du Quebec invested $150 million in Celsius in October as part of a $400 million funding round co-led by WestCap Investment Partners LLC.

Equity holders are likely to be wiped out after Celsius filed for Chapter 11 bankruptcy protection in a US court, a casualty of a meltdown in cryptocurrency prices that has wiped out a number of digital-asset lenders ...

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