Celsius Network Raises $400m, Valuation Rises To $3.25b Despite Regulatory Backlash

Celsius Network, a global crypto earning and borrowing platform, has announced that it has raised a new round of funding for $400 million, with the round led by WestCap, a growth equity firm, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.The funding shared from CDPQ, a Canadian investments firm, is the firm’s first foray into the crypto industry, despite already having over $400 billion in investments for other financial technology companies. This latest investment positions CDPQ’s assets for further diversification in the traditional financial sector, alongside a further inroad to the financial technology sector.