Cryptocurrency lending company Celsius Network raised $400 mil | Best Crypto Traders Official

Cryptocurrency lending company Celsius Network raised $400 million

Cryptocurrency lending platform Celsius Network has raised $400 million in a new round of equity financing amid increasingly tough measures by U.S. regulators on cryptocurrency lending.

"It's not $400 million. It's the trust of the people who wrote those checks," Celsius' CEO said.

In announcing the news Tuesday, Celsius noted that the latest funding came from Canada's second-largest pension fund, the Caisse de dépôt et Placement du Québec (CDPQ), and WestCap, an equity firm founded by former Airbnb executive Lawrence Tosi.

Celsius also plans to double its team from 486 employees to nearly 1,000 and to expand globally through strategic acquisitions.

Celsius Network (CEL) allows users to earn interest from owning digital assets such as bitcoins (BTC).