Celsius’ Bankruptcy Freezes $150M Put by Canadian Pension Broker
The recent collapse of Celsius Network blocked $150 million of investments made by Quebec’s pension manager Caisse de Depot et Placement du Quebec made in October 2021.
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As per a report by Bloomberg, a spokesperson for the broker, Maxime Chagnon, admitted in an email statement that the broker’s decision to back the crypto lending platform «raises a number of questions.» Chagnon went on:
«A very small portion of our overall portfolio is invested in new technologies, which feature innovative, high-growth companies in riskier sectors that offer the potential for superior returns — and have provided outstanding returns to our clients over a number of years.»
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The spokesperson added that it «will take time to resolve» the issues regarding Celsius’ bankruptcy and the broker’s efforts to get money back. Caisse wasn’t the only company though that invested in the troubled lending firm.
In October last year, Celsius Network raised $400 million in a funding round led by WestCap, a growth equity firm, and Caisse.
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