{"id":27834,"date":"2020-08-27T20:22:16","date_gmt":"2020-08-27T17:22:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27834"},"modified":"2025-08-26T23:23:01","modified_gmt":"2025-08-26T20:23:01","slug":"celsius-network-raises-20-2-million-in-crowdfunding","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/celsius-network-raises-20-2-million-in-crowdfunding\/","title":{"rendered":"Celsius Network raises $20.2 million in crowdfunding"},"content":{"rendered":"<p>The Celsius Network cryptocurrency lending service raised the amount attracted in the crowdfunding campaign to $20.2 million. Financing via the BankToTheFuture platform was provided by 1,006 investors.<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">\ud83d\udce2 CLOSING SOON: $20,199,924+ Raised. 1006+ investors. <a href=\\\"https:\/\/twitter.com\/CelsiusNetwork?ref_src=twsrc%5Etfw\\\">@CelsiusNetwork<\/a> open for qualifying investors on <a href=\\\"https:\/\/twitter.com\/BankToTheFuture?ref_src=twsrc%5Etfw\\\">@BankToTheFuture<\/a> \u2014 <a href=\\\"https:\/\/t.co\/WkFhIBnq1M\\\">https:\/\/t.co\/WkFhIBnq1M<\/a> <a href=\\\"https:\/\/t.co\/Sw8xXMjmiy\\\">pic.twitter.com\/Sw8xXMjmiy<\/a><\/p>\n<p>\u2014 BnkToTheFuture (@BankToTheFuture) <a href=\\\"https:\/\/twitter.com\/BankToTheFuture\/status\/1298935549521256453?ref_src=twsrc%5Etfw\\\">August 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The amount raised turned out to be twice the initially stated target of $10 million. In late July, the target was revised to $17 million, but by that time Celsius Network had already raised $18.8 million.<\/p>\n<p>According to the founder of the service, the current extension of the crowdfunding campaign became &#8216;final&#8217;. In its first day in June, the project raised $10.7 million from 39 investors. To reach more than $20 million, another 44 days were needed.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">We decided to reopen \u2066<a href=\\\"https:\/\/twitter.com\/BankToTheFuture?ref_src=twsrc%5Etfw\\\">@BankToTheFuture<\/a>\u2069 to all investors who missed out and we just topped $20,000,000 and are 18 investors away from hitting 1000 Celsians as \u2066<a href=\\\"https:\/\/twitter.com\/CelsiusNetwork?ref_src=twsrc%5Etfw\\\">@CelsiusNetwork<\/a>\u2069 equity investors. Two days left before doors close forever. <a href=\\\"https:\/\/t.co\/1SNDpkAwDM\\\">pic.twitter.com\/1SNDpkAwDM<\/a><\/p>\n<p>\u2014 Alex Mashinsky \u00a9\ufe0f (@Mashinsky) <a href=\\\"https:\/\/twitter.com\/Mashinsky\/status\/1298323399589203969?ref_src=twsrc%5Etfw\\\">August 25, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The crowdfunding campaign raised suspicion that Celsius Network was facing serious financial difficulties. The head of The Block&#8217;s research division, Larry Cermak, in July advised users on the platform to exercise caution. And the founder of competing service Compound, in a Twitter spat with Mashinsky, drew attention to the opacity of Celsius&#8217;s custody of funds.<\/p>\n<p>In response, the Celsius founder noted that the company\u2019s accounts hold more than $150 million in CEL tokens. He added that such speculation is unfounded in light of a $10 million investment by the issuer, Tether.<\/p>\n<p>Simultaneously with the crowdfunding extension, Celsius Network announced a raise in the annual percentage yield (APY) on 12 stablecoins to 11.55%\u201315.89%. Holders of the native token can push this figure further to above 35%.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Celsius Network cryptocurrency lending service raised the amount attracted in the crowdfunding campaign to $20.2 million. Financing via the BankToTheFuture platform was provided by 1,006 investors.<\/p>\n","protected":false},"author":1,"featured_media":27835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,53],"class_list":["post-27834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-crowdfunding"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=27834"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27834\/revisions"}],"predecessor-version":[{"id":27836,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27834\/revisions\/27836"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/27835"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=27834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=27834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=27834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}