Canadian pension fund cancels investment in crypto-lending platform Celsius
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Canadian pension fund cancels investment in crypto-lending platform Celsius
Canadian pension fund giant Caisse de dépôt et placement du Québec (CDPQ) has written off its investment in crypto lender Celsius.
in talking At a press conference in Montreal on Wednesday (August 17, 2022), Charles Emond, CEO of CDPQ, told:
The pension fund invested early in the cryptocurrency industry.
The industry is currently in a phase of transition.
The CEO noted that the fund used due diligence and caution before betting on cryptocurrencies.
The following is stated in Emond’s statement:
Due diligence was extensive with the participation of many experts and consultants.
Read:Ethereum staking process: Allocating one million Ethereum (ETH) coins for this purpose
The team treated the investment with caution.
We had 4% of the stock.
The conversations we had internally were very clear.
Emmond’s comments come nearly a year after the pension fund invested in lending platform Celsius.
In October 2021, CDPQ and growing equity firm WestCap injected $400 million into the crypto-lending platform, with CDPQ’s stake amounting to $150 million.
In July 2022, the Celsius platform filed for Chapter 11 bankruptcy protection in the United States after temporarily halting withdrawals last June.
Read:US Treasury Secretary: Crypto regulation is necessary and a risky option if it is adopted in retirement savings
Meanwhile, Emond said the company is currently studying its legal options.
Read also:
SEC sues Dragonchain, accusing it of selling unregistered securities
Record rise in crypto thefts in 2022…Details here
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time