Canadian pension fund giant CDPQ said it will write off its entire $150 million bet on bankrupt crypto lender Celsius, noting it entered the volatile sector “too soon.” mikeybellusci reports
The Caisse de Depot et Placement du Quebec pension fund has elected to write off its stake in bankrupt crypto lender Celsius Network, Caisse confirmed Wednesday.
The Canadian fund invested US$150 million in Celsius in the fall of 2021. “Blockchain technology has the potential to disrupt several sectors of the traditional economy. As digital assets grow in adoption, we intend to capture the right opportunities, while working with our partners towards a regulated industry,” Alexandre Synnett, executive vice-president and chief technology officer at Caisse
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