Canadian Pension Fund Writes Off $150M Celsius Loss, Believes They Entered Cr...
A major Canadian pension fund manager has written off a $150M investment in crypto lending platform Celsius Network as a total loss, expecting an impending shutter of the once high-flying CeFi platform. According to a report from the Financial Times, the fund is the second-largest in Canada and has signaled the write-off as being indicative of the funds’ expeditious decision to have exposure to crypto assets. Canadian Fund’s “Disappointment” Caisse de dépôt et placement du Québec, or CDPQ, is Canada’s second-largest pension fund in the country, according to....
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Celsius Network has seen months of turmoil as the company halted operations, was hit with lawsuits and filed for bankruptcy in the United States. Now, its CEO and founder Alex Mashinsky submitted his letter of resignation, according to a press release. Related Reading: Celsius Network Investment Results In $150M Loss For Canadian Fund Giant The […]
Celsius Network, the crypto lending firm founded by Alex Mashinsky, reported almost $2 billion in losses to New York courts. The company filed for bankruptcy protection in the United States after halting its operations and defaulting on a number of debt commitments to its clients and investors. Related Reading: Why Google Has Invested $1.5 Billion […]
The venture arm of a major Canadian pension fund is reportedly looking at making investments in bitcoin and blockchain startups. The Ontario Municipal Employees Retirement System, or OMERS, is one of Canada's largest municipal pension funds. The fund's venture arm, OMERS Ventures, recently disclosed in a recent interview with Canadian business publication TechVibes that it was exploring the use of proceeds from a recently closed $260m CAD fund to make investments in the bitcoin space. The fund has also drawn support from the Bank of Montreal and Cisco Investments. Managing director Jim....
It looks like the Canadian pension fund either has a greater risk appetite, overtly optimistic or just doesn't care. I would prefer to think that it is the former two. Either way it is good for the crypto-industry. On a serious note - The Ontario Municipal Employees Retirement System which can be shortened into OMERS for good (to make it easier for writing purposes) is planning to invest in bitcoin and blockchain start-ups. OMERS is one of the largest municipal level pension funds in Canada which has its own venture arm called OMERS Ventures. OMERS Ventures has been active for over four....
According to a document filed with the Southern District of New York, crypto lending firm Celsius Network and Celsius KeyFi introduced a lawsuit against trading firm KeyFi and Jason Stone. The crypto lending firm claims Stone and his company were “incompetent” and “deceitful” during their partnership. Related Reading: Celsius Network Investment Results In $150M Loss […]