Celsius Backs Maple Finance with $30M in wETH
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Feb. 24, 2022

Celsius Network, a cryptocurrency loan company, has invested $30 million in a form of wrapped ether (wETH) into Maple Finance, a corporate debt marketplace that allows institutions to borrow from liquidity pools funded by the decentralized finance (DeFi) ecosystem.

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The startup wrote in a blog announcement that the funding will help it with scaling "the number of borrowers and loans issued in the coming year." The company added that such market makers as Wintermute and Amber will use the capital to fund business operations and growth as well as benefit from the efficiency of not needing to lock up much-needed capital to secure the loans. Alex Mashinsky, Celsius CEO, said the investment will gibe the company a tool to move "quickly and securely into the space."

Celsius Network Confirms Losses due to BadgerDAO Hack

In January, reports said the US Securities and Exchange Commission (SEC) is weighing whether it should go after cryptocurrency firms Celsius Network, Voyager Digital and Gemini over their interest-bearing businesses. The SEC is exploring whether the companies' offerings should be registered as securities.

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