Why did Quebec's $303 billion pension fund write off Celsius Network?

Get new users downloading your project releases today! Quebec's $303 billion pension manager has written off its stake in bankrupt cryptocurrency lender Celsius Network, with its chief executive officer conceding the fund invested "too soon" in the sector.

Is Celsius a scam?

Because Celsius offers zero-fee remission services to its customers does not mean the network is a scam. They have been around since 2017, and it doesn’t look as if they are slowing down soon. The number of users jumped from about 106,000 last year to more than 500,000 speaks volumes.

Is the Celsius scale capitalized?

The scale centigrade is not. Since Celsius is named for Anders Celsius, the Swedish astronomer who created it, that's capitalized. And, since the Fahrenheit scale is named for Gabriel Daniel Fahrenheit, the German physicist who created it, the term merits capitalization.

What's going on at Celsius?

The strain at the beleaguered firm — which hired restructuring consultants from advisory firm Alvarez & Marsal to help with a possible bankruptcy filing, The Wall Street Journal reported on 24 June — comes as Celsius contends with the recent crash in digital asset values. Lawyers at Akin Gump Strauss Hauer & Feld are also reportedly advising...