Wednesday, October 8, 2025

Latest

Quebec-Based Pension Manager Writes Off $150 Million Celsius Network Investment

Quebec pension manager Caisse de depot et placement du Québec (CDPQ) has written off its investment in now-bankrupt cryptocurrency lending company Celsius network, conceding that it was too soon to venture into the sector.

CDPQ CEO Charles Emond finally broke silence on his fund’s $150 million investment in the Celsius Network, which filed for Chapter 11 bankruptcy in July after suffering a sudden liquidity crisis amid a crash in crypto prices. “The due diligence was quite extensive with many experts and consultants involved. The team came in cautiously,” he said, as cited by Bloomberg. “We had a 4% equity stake. The conversations we had internally were pretty straightforward. The teams are accountable for that.”

The pension manager reported a 7.9% loss in the first half of 2022, while its benchmark portfolio fell 10.5%. Net assets were down by $28.2 billion to $391.6 billion. “Due diligence is not a guarantee of success,” said Emond, adding that he empathizes with fellow investors who also had their funds frozen during Celsius Network’s bankruptcy process. He attested the cryptocurrency community as a sector undergoing a “transition,” but insisted that CDPQ staff made the right decisions in the absence of unforeseen information.


Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Fisker Hits the Brakes: EV Maker Latest To File For Bankruptcy

American electric vehicle startup Fisker (NYSE: FSR) filed for Chapter 11 bankruptcy protection in a...

Tuesday, June 18, 2024, 12:20:00 PM

Celsius Looks At Selling US$23 Million In Stablecoin Holdings For Its Bankruptcy Process

Celsius Network filed on Thursday with the court holding its bankruptcy hearings a request to...

Friday, September 16, 2022, 03:16:00 PM

25,000 Retail Stores are Predicted to Permanently Close by End of 2020

Although the peak of the coronavirus pandemic is supposedly beginning to subside given that states...

Wednesday, June 10, 2020, 03:21:00 PM

September Bankruptcies Soar as US Small Businesses Forced to Shut Doors

Despite record trillion dollar injections into the economy, it appears that many businesses across the...

Saturday, October 3, 2020, 11:35:00 AM

Gold’s Gym Files for Bankruptcy Protection Due to Coronavirus Pandemic

As the coronavirus pandemic began to infiltrate the US population, many businesses and services were...

Tuesday, May 5, 2020, 10:14:14 AM