Crypto lending firm Celsius Network has expanded its $400 million Series B round from October to $750 million as a result of oversubscription in the firm’s capital raise.
The company is now valued at $3.5 billion following the raise and CEO Alex Mashinsky told Cointelegraph he expects that figure to “double or triple” next year which would see it valued between $7B and $10.5B
The firm previously closed the round on Oct. 12 amid a period of intense scrutiny placed on crypto lending firms from local regulators. Celsius CEO Alex Mashinsky emphasized at the time that “it’s not $400 million. It’s the credibility that comes with the people who wrote those checks.”
In an announcement shared with Cointelegraph on Nov. 25, Celsius outlined that new funds will