Long-Awaited Bitcoin Accounting Rules to Capture Rises, Dips (2)
Sep 7, 2023
Crypto lending firm Celsius Network has expanded its $400-million Series B funding round from October to $750 million as a result of oversubscription in the firm’s capital raise. The firm previously closed the round on Oct. 12 amid a period of intense scrutiny placed on crypto lending firms from local regulators. Speaking on the $750-million funding round with Cointelegraph, Mashinsky said that the fact that the round was oversubscribed shows a “very good indication” of the strength of the Celsius brand, which he said was userfocused. And most of our competitors [...] they charge the customers fees and give all that money to their shareholders,” he said. Related: Crypto lending firms on the hot seat: New regulations are coming?
