Celsius raises $400 million amid mounting regulatory pressure

Crypto lending firm Celsius Network has raised more than $400 million in a funding round led by growth equity firm WestCap, the company announced Tuesday. 

The raise—which values the firm at $3 billion—has closed as state regulators across the US are scrutinizing the company's offerings. In September, New Jersey's securities regulator ordered crypto lending platform Celsius to halt offerings of its interest accounts in the state. Subsequently, regulators in Texas, Alabama and Kentucky launched inquiries or ordered similar halts.

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