Investment firm WestCap and Canada’s second-largest pension fund led a $750 million Series B round for Celsius Network. The Wall Street Journal reports, citing sources.
According to them, existing investors are amenable to restructuring or backing the struggling platform with the involvement of other interested parties.
In October 2021, WestCap and Canada’s second-largest pension fund led a $750 million Series B round for Celsius.
They were not deterred by allegations raised shortly before that the platform had sold unregistered securities. Regulators in the states of Texas, New Jersey, Alabama and Kentucky have raised concerns.
Earlier, the publication reported on June 15 that Celsius had hired lawyers from Akin Gump Strauss Hauer & Feld for possible financial restructuring. Journalists stressed that the platform’s initial aim was to attract capital from investors.
According to The Block, to address this task the company turned to the financial conglomerate Citigroup.
On June 17, regulators in five states began an investigation into the platform’s account freezes, о начале расследования регуляторами that regulators in five states had frozen the platform’s accounts.
Earlier an expert назвал Celsius bankruptcy practically inevitable.
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